Amalgamated Bank Sells 167 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Amalgamated Bank lessened its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 1.2% during the third quarter, Holdings Channel.com reports. The firm owned 13,562 shares of the company’s stock after selling 167 shares during the period. Amalgamated Bank’s holdings in DocuSign were worth $842,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its stake in DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares in the last quarter. Mather Group LLC. boosted its holdings in DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after acquiring an additional 564 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in DocuSign in the 3rd quarter valued at about $47,000. nVerses Capital LLC purchased a new position in DocuSign in the second quarter worth $48,000. Finally, Quarry LP purchased a new stake in DocuSign during the second quarter worth about $53,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $80.36 on Friday. The company has a market cap of $16.31 billion, a PE ratio of 16.95, a P/E/G ratio of 8.73 and a beta of 0.90. The firm’s 50 day moving average price is $66.18 and its 200-day moving average price is $59.18. DocuSign, Inc. has a 52-week low of $42.12 and a 52-week high of $83.68.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share. On average, analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on DOCU. Robert W. Baird upped their price objective on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Citigroup increased their price objective on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Bank of America boosted their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada upped their price objective on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, DocuSign currently has a consensus rating of “Hold” and an average target price of $63.40.

Insider Activity

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the completion of the transaction, the insider now owns 70,748 shares of the company’s stock, valued at $3,923,684.08. This represents a 17.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following the transaction, the director now owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,558 shares of company stock valued at $4,272,768 in the last 90 days. Company 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.