Financial Advocates Investment Management Trims Stake in DocuSign, Inc. (NASDAQ:DOCU)

Financial Advocates Investment Management trimmed its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 11.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,796 shares of the company’s stock after selling 1,314 shares during the quarter. Financial Advocates Investment Management’s holdings in DocuSign were worth $524,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its position in 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 in the last quarter. Mather Group LLC. boosted its stake in DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in DocuSign during the 1st quarter valued at about $37,000. ICA Group Wealth Management LLC purchased a new position in DocuSign in the fourth quarter worth about $39,000. Finally, Jones Financial Companies Lllp purchased a new stake in shares of DocuSign during the fourth quarter valued at approximately $59,000. Institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Allan C. Thygesen sold 7,911 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $53.77, for a total value of $425,374.47. Following the sale, the chief executive officer now directly owns 117,643 shares in the company, valued at $6,325,664.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Allan C. Thygesen sold 7,911 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $53.77, for a total value of $425,374.47. Following the completion of the sale, the chief executive officer now directly owns 117,643 shares of the company’s stock, valued at approximately $6,325,664.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel D. Springer sold 70,983 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.84, for a total value of $3,537,792.72. Following the transaction, the director now directly owns 891,373 shares in the company, valued at approximately $44,426,030.32. The disclosure for this sale can be found here. Insiders have sold a total of 475,192 shares of company stock worth $25,095,034 in the last 90 days. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Stock Performance

Shares of DocuSign stock traded up $1.88 during trading hours on Thursday, hitting $59.54. The company’s stock had a trading volume of 589,908 shares, compared to its average volume of 2,636,927. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $64.76. The business has a 50 day moving average price of $54.58 and a two-hundred day moving average price of $55.53. The company has a market cap of $12.19 billion, a PE ratio of 114.33, a PEG ratio of 8.34 and a beta of 0.94.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, June 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.09. The business had revenue of $709.64 million during the quarter, compared to the consensus estimate of $706.07 million. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. As a group, research analysts anticipate that DocuSign, Inc. will post 0.88 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, August 16th. Royal Bank of Canada lowered their target price on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a research note on Friday, June 7th. Robert W. Baird reduced their price target on shares of DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. JMP Securities restated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Wednesday, July 10th. Finally, Morgan Stanley cut their target price on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, DocuSign has an average rating of “Hold” and a consensus price target of $59.36.

DocuSign 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.