DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 59.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 181,735 shares of the company’s stock after selling 265,532 shares during the quarter. Bank of Montreal Can owned approximately 0.09% of DocuSign worth $9,832,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Coatue Management LLC acquired a new position in shares of DocuSign during the fourth quarter worth $288,274,000. Jericho Capital Asset Management L.P. lifted its holdings in DocuSign by 316.6% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after buying an additional 2,597,489 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of DocuSign during the 2nd quarter worth about $115,795,000. Pacer Advisors Inc. increased its holdings in shares of DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after acquiring an additional 1,541,816 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after acquiring an additional 576,414 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Stock Down 1.4 %

Shares of NASDAQ:DOCU opened at $61.67 on Monday. The company has a 50-day moving average price of $56.30 and a 200 day moving average price of $56.34. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76. The company has a market cap of $12.62 billion, a P/E ratio of 118.60, a PEG ratio of 6.37 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 earnings per share. Analysts expect that DocuSign, Inc. will post 0.99 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on DOCU. Robert W. Baird upped their target price on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. JMP Securities restated a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. Morgan Stanley reduced their target price on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Finally, Bank of America raised their price target on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, DocuSign has an average rating of “Hold” and an average price target of $63.40.

Insider Buying and Selling at DocuSign

In related news, Director Daniel D. Springer sold 70,983 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the sale, the director now owns 891,373 shares in the company, valued at approximately $44,426,030.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the sale, the insider now directly owns 70,748 shares in the company, valued at approximately $3,923,684.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel D. Springer sold 70,983 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the transaction, the director now owns 891,373 shares of the company’s stock, valued at $44,426,030.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 438,154 shares of company stock valued at $23,351,788. Corporate insiders own 1.66% of the company’s stock.

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.