Benjamin F. Edwards & Company Inc. Lowers Stake in DocuSign, Inc. (NASDAQ:DOCU)

Benjamin F. Edwards & Company Inc. trimmed its position in DocuSign, Inc. (NASDAQ:DOCU) by 12.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,847 shares of the company’s stock after selling 395 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in DocuSign were worth $152,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DOCU. Coatue Management LLC purchased a new position in DocuSign in the fourth quarter valued at approximately $288,274,000. Jericho Capital Asset Management L.P. increased its position in shares of DocuSign by 316.6% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after acquiring an additional 2,597,489 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after acquiring an additional 576,414 shares during the period. Vanguard Group Inc. lifted its holdings in shares of DocuSign by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after acquiring an additional 417,352 shares in the last quarter. Finally, KBC Group NV boosted its position in DocuSign by 119.3% during the 4th quarter. KBC Group NV now owns 739,196 shares of the company’s stock worth $43,945,000 after purchasing an additional 402,084 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 7,911 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $53.77, for a total transaction of $425,374.47. Following the completion of the sale, the chief executive officer now owns 117,643 shares in the company, valued at $6,325,664.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Stephen Shute sold 35,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total value of $1,866,311.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 7,911 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $53.77, for a total value of $425,374.47. Following the transaction, the chief executive officer now owns 117,643 shares of the company’s stock, valued at approximately $6,325,664.11. The disclosure for this sale can be found here. Insiders have sold 446,065 shares of company stock worth $23,777,163 over the last ninety days. 1.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on DOCU shares. Citigroup boosted their price objective on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Piper Sandler reduced their price target on DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Wells Fargo & Company increased their price objective on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Bank of America boosted their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $61.45.

DocuSign Stock Performance

Shares of DOCU stock opened at $62.53 on Friday. The stock has a market capitalization of $12.69 billion, a price-to-earnings ratio of 120.25, a PEG ratio of 6.37 and a beta of 0.93. DocuSign, Inc. has a one year low of $38.11 and a one year high of $64.76. The company’s 50-day simple moving average is $56.03 and its 200-day simple moving average is $56.31.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. DocuSign’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. As a group, research analysts forecast that DocuSign, Inc. will post 0.99 EPS for the current year.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.