Crossmark Global Holdings Inc. Cuts Stake in DocuSign, Inc. (NASDAQ:DOCU)

Crossmark Global Holdings Inc. lowered its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 10.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,689 shares of the company’s stock after selling 2,500 shares during the period. Crossmark Global Holdings Inc.’s holdings in DocuSign were worth $1,284,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in DOCU. Oppenheimer Asset Management Inc. bought a new position in shares of DocuSign during the first quarter worth about $251,000. Russell Investments Group Ltd. boosted its holdings in shares of DocuSign by 24.8% in the 1st quarter. Russell Investments Group Ltd. now owns 224,433 shares of the company’s stock valued at $13,360,000 after buying an additional 44,597 shares during the period. Avantax Advisory Services Inc. boosted its holdings in shares of DocuSign by 7.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 16,173 shares of the company’s stock valued at $963,000 after buying an additional 1,077 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of DocuSign by 336.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 57,812 shares of the company’s stock valued at $3,443,000 after buying an additional 44,573 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in DocuSign by 22.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 103,048 shares of the company’s stock worth $6,137,000 after acquiring an additional 19,149 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $81.81 on Thursday. DocuSign, Inc. has a one year low of $42.08 and a one year high of $83.68. The company’s fifty day moving average price is $65.69 and its 200-day moving average price is $59.02. The firm has a market capitalization of $16.60 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 8.73 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm’s revenue for the quarter 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, equities research analysts expect that DocuSign, Inc. will post 1.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DOCU shares. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Bank of America lifted their price target on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company increased their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Robert W. Baird boosted their price target on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, Citigroup increased their price objective on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Two 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. According to data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and a consensus price target of $63.40.

Insider Transactions at DocuSign

In other news, CEO Allan C. Thygesen sold 7,764 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the sale, the chief executive officer now directly owns 107,825 shares in the company, valued at approximately $7,542,358.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction 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 transaction, the director now owns 7,202 shares of the company’s stock, valued at $407,345.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 7,764 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the sale, the chief executive officer now directly owns 107,825 shares in the company, valued at approximately $7,542,358.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,558 shares of company stock worth $4,272,768. 1.66% of the stock is currently owned by insiders.

DocuSign 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.