DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP lowered its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 97.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,927 shares of the company’s stock after selling 128,503 shares during the quarter. Bridgewater Associates LP’s holdings in DocuSign were worth $244,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Freedom Investment Management Inc. purchased a new stake in shares of DocuSign during the third quarter worth about $201,000. Townsquare Capital LLC lifted its stake in shares of DocuSign by 3.7% in the third quarter. Townsquare Capital LLC now owns 5,103 shares of the company’s stock worth $317,000 after acquiring an additional 183 shares in the last quarter. Brooklyn Investment Group acquired a new stake in DocuSign during the 3rd quarter valued at approximately $33,000. FMR LLC increased its holdings in DocuSign by 16.8% during the 3rd quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $136,156,000 after purchasing an additional 315,073 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in DocuSign by 2.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 53,508 shares of the company’s stock worth $3,322,000 after purchasing an additional 1,248 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling at DocuSign

In related news, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were 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 of the company’s stock, valued at $3,923,684.08. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 7,648 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total value of $477,770.56. Following the completion of the sale, the chief executive officer now owns 115,589 shares in the company, valued at approximately $7,220,844.83. This represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,596 shares of company stock valued at $4,441,529 in the last ninety days. Company insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several recent analyst reports. Jefferies Financial Group raised their price objective on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday. JMP Securities lifted their price target on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Robert W. Baird boosted their price objective on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Finally, Citigroup lifted their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $70.73.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $80.45 on Wednesday. The stock has a market capitalization of $16.33 billion, a P/E ratio of 16.97, a P/E/G ratio of 8.31 and a beta of 0.92. The business has a 50-day moving average of $72.86 and a two-hundred day moving average of $61.36. DocuSign, Inc. has a fifty-two week low of $44.34 and a fifty-two week high of $86.75.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $727.20 million. During the same period last year, the business posted $0.09 EPS. DocuSign’s revenue was up 7.0% compared to the same quarter last year. As a group, research analysts expect that DocuSign, Inc. will post 1.03 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.