Envestnet Asset Management Inc. Sells 1,023 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Envestnet Asset Management Inc. lessened its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 87,416 shares of the company’s stock after selling 1,023 shares during the quarter. Envestnet Asset Management Inc.’s holdings in DocuSign were worth $4,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in DOCU. Massmutual Trust Co. FSB ADV lifted its position in shares of 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 buying an additional 500 shares during the last quarter. Mather Group LLC. lifted its position 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 buying an additional 564 shares during the last quarter. Register Financial Advisors LLC purchased a new position in shares of DocuSign during the 1st quarter valued at $37,000. nVerses Capital LLC purchased a new position in shares of DocuSign during the 2nd quarter valued at $48,000. Finally, Jones Financial Companies Lllp purchased a new stake in DocuSign during the 4th quarter worth about $59,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Stock Down 1.1 %

NASDAQ:DOCU opened at $61.42 on Wednesday. The stock has a market cap of $12.57 billion, a P/E ratio of 118.12, a PEG ratio of 6.37 and a beta of 0.93. The business’s 50-day moving average price is $56.52 and its two-hundred day moving average price is $56.41. DocuSign, Inc. has a twelve month low of $38.11 and a twelve month high of $64.76.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.80 by $0.17. The firm had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 EPS. On average, equities research analysts expect that DocuSign, Inc. will post 0.99 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 dated Thursday, August 1st. The stock was sold at an average price of $54.89, for a total transaction of $424,025.25. Following the transaction, the chief executive officer now directly owns 109,918 shares in the company, valued at approximately $6,033,399.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $54.89, for a total transaction of $424,025.25. Following the transaction, the chief executive officer now directly owns 109,918 shares in the company, valued at approximately $6,033,399.02. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Stephen Shute sold 35,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total value of $1,866,311.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 438,154 shares of company stock worth $23,351,788. 1.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of recent research reports. Bank of America increased their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Piper Sandler dropped their price objective on DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Robert W. Baird increased their price objective on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Finally, Citigroup increased their price objective on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Two equities research 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $63.40.

About DocuSign

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.