Cetera Investment Advisers Reduces Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Cetera Investment Advisers trimmed its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 2.9% in the second quarter, Holdings Channel.com reports. The fund owned 44,381 shares of the company’s stock after selling 1,328 shares during the period. Cetera Investment Advisers’ holdings in DocuSign were worth $2,374,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Quarry LP grew its holdings in DocuSign by 177.9% in the fourth quarter. Quarry LP now owns 1,209 shares of the company’s stock valued at $72,000 after purchasing an additional 774 shares during the last quarter. V Square Quantitative Management LLC grew its stake in DocuSign by 71.1% in the 4th quarter. V Square Quantitative Management LLC now owns 2,265 shares of the company’s stock valued at $135,000 after acquiring an additional 941 shares during the last quarter. Centaurus Financial Inc. increased its holdings in DocuSign by 7.7% during the 4th quarter. Centaurus Financial Inc. now owns 8,694 shares of the company’s stock valued at $517,000 after acquiring an additional 622 shares in the last quarter. Royal London Asset Management Ltd. raised its position in DocuSign by 6.4% during the fourth quarter. Royal London Asset Management Ltd. now owns 78,287 shares of the company’s stock worth $4,654,000 after acquiring an additional 4,740 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of DocuSign by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after purchasing an additional 417,352 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DOCU. Wells Fargo & Company lifted their price objective on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Citigroup boosted their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Robert W. Baird increased 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. Bank of America boosted their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada raised their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $63.40.

Insider Buying and Selling at DocuSign

In related news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the sale, the director now owns 7,202 shares of the company’s stock, valued at $407,345.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel D. Springer sold 287,052 shares of DocuSign stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the completion of the sale, the director now owns 923,445 shares of the company’s stock, valued at approximately $49,662,872.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 418,002 shares of company stock valued at $22,471,973 over the last 90 days. 1.66% of the stock is owned by corporate insiders.

DocuSign Stock Down 0.5 %

DOCU stock opened at $68.89 on Friday. The company has a market cap of $13.98 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 7.33 and a beta of 0.92. The business has a fifty day simple moving average of $58.30 and a 200-day simple moving average of $56.83. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $69.78.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. During the same quarter in the prior year, the company earned $0.09 EPS. The company’s revenue was up 7.0% on a year-over-year basis. As a group, analysts expect that DocuSign, Inc. will post 1.01 earnings per share 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.