Bank of Montreal Can Trims Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Bank of Montreal Can cut its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,879 shares of the company’s stock after selling 2,856 shares during the quarter. Bank of Montreal Can’s holdings in DocuSign were worth $11,031,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DOCU. Massmutual Trust Co. FSB ADV lifted its position in 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 buying an additional 500 shares during the period. Mather Group LLC. increased its stake in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after acquiring an additional 564 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of DocuSign during the 3rd quarter worth about $47,000. nVerses Capital LLC acquired a new stake in shares of DocuSign in the second quarter worth approximately $48,000. Finally, Quarry LP purchased a new stake in DocuSign in the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Down 0.9 %

NASDAQ DOCU opened at $79.69 on Monday. DocuSign, Inc. has a fifty-two week low of $42.76 and a fifty-two week high of $86.75. The business has a 50 day moving average price of $71.99 and a two-hundred day moving average price of $61.08. The stock has a market cap of $16.17 billion, a PE ratio of 16.81, a P/E/G ratio of 8.25 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts anticipate that DocuSign, Inc. will post 1.03 EPS for the current fiscal year.

Insider Activity

In other news, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total transaction of $456,470.25. Following the completion of the transaction, the chief executive officer now directly owns 102,193 shares in the company, valued at approximately $6,038,584.37. This represents a 7.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, September 16th. The stock was 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 owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,558 shares of company stock worth $4,272,768 over the last ninety days. Corporate insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Citigroup increased their price target on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Wells Fargo & Company increased their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. JMP Securities raised their price objective on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Finally, Robert W. Baird lifted their price objective on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $65.80.

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.