Quest Partners LLC Decreases Stake in DocuSign, Inc. (NASDAQ:DOCU)

Quest Partners LLC cut its stake in DocuSign, Inc. (NASDAQ:DOCU) by 80.4% in the third quarter, Holdings Channel reports. The firm owned 2,067 shares of the company’s stock after selling 8,488 shares during the period. Quest Partners LLC’s holdings in DocuSign were worth $128,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Inspire Investing LLC acquired a new stake in DocuSign during the 3rd quarter worth about $911,000. Comerica Bank lifted its holdings in shares of DocuSign by 228.8% during the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after purchasing an additional 20,110 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of DocuSign by 5,660.8% during the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after purchasing an additional 431,295 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in DocuSign by 7.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock valued at $80,501,000 after buying an additional 85,987 shares during the last quarter. Finally, Carrera Capital Advisors acquired a new position in DocuSign in the 3rd quarter worth approximately $666,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 7,764 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the transaction, the chief executive officer now directly owns 107,825 shares of the company’s stock, valued at $7,542,358.75. This trade represents a 6.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the sale, the insider now owns 70,748 shares in the company, valued at $3,923,684.08. This trade represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,558 shares of company stock valued at $4,272,768 over the last quarter. 1.66% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on DOCU. Citigroup boosted their target price on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada lifted their price target on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Wells Fargo & Company lifted their target price on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Finally, JMP Securities boosted their target price on shares of DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $65.80.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $80.38 on Friday. The firm’s 50-day moving average is $71.56 and its two-hundred day moving average is $60.93. DocuSign, Inc. has a 1 year low of $42.13 and a 1 year high of $86.75. The firm has a market capitalization of $16.31 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 9.05 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last posted 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. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same quarter in the prior year, the company earned $0.09 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. Analysts expect that DocuSign, Inc. will post 1.01 EPS for the current fiscal 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.