DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank cut its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,078 shares of the company’s stock after selling 449 shares during the period. Toronto Dominion Bank’s holdings in DocuSign were worth $1,074,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DOCU. Massmutual Trust Co. FSB ADV grew its holdings in shares of DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the last quarter. Mather Group LLC. grew its holdings in shares of DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares during the last quarter. Register Financial Advisors LLC purchased a new position in shares of DocuSign during the first quarter worth about $37,000. ICA Group Wealth Management LLC purchased a new position in shares of DocuSign during the fourth quarter worth about $39,000. Finally, nVerses Capital LLC purchased a new position in shares of DocuSign during the second quarter worth about $48,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Trading Up 0.7 %

Shares of DOCU opened at $62.09 on Tuesday. DocuSign, Inc. has a twelve month low of $38.11 and a twelve month high of $64.76. The stock’s 50 day moving average is $56.41 and its two-hundred day moving average is $56.38. The firm has a market capitalization of $12.71 billion, a PE ratio of 119.40, a P/E/G 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, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same quarter in the previous year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts predict that DocuSign, Inc. will post 0.99 EPS for the current year.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephen Shute sold 35,300 shares of DocuSign stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $52.87, for a total transaction of $1,866,311.00. The disclosure for this sale can be found here. In the last three months, insiders sold 438,154 shares of company stock worth $23,351,788. Company insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DOCU shares. Bank of America raised their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Piper Sandler lowered their price target on DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Robert W. Baird raised their price target on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada raised their price target on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company raised their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $63.40.

About DocuSign

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.