DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. lowered its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,619,086 shares of the company’s stock after selling 37,708 shares during the quarter. DocuSign makes up about 0.8% of Jupiter Asset Management Ltd.’s holdings, making the stock its 19th biggest position. Jupiter Asset Management Ltd. owned 0.79% of DocuSign worth $86,621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dakota Wealth Management raised its holdings in DocuSign by 0.8% during the second quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after purchasing an additional 181 shares in the last quarter. New York State Teachers Retirement System raised its holdings in DocuSign by 1.0% during the first quarter. New York State Teachers Retirement System now owns 18,469 shares of the company’s stock worth $1,100,000 after purchasing an additional 187 shares in the last quarter. Motley Fool Asset Management LLC grew its position in shares of DocuSign by 6.0% during the first quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company’s stock worth $236,000 after acquiring an additional 224 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of DocuSign by 0.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,899 shares of the company’s stock worth $4,617,000 after acquiring an additional 239 shares during the last quarter. Finally, SeaCrest Wealth Management LLC grew its position in shares of DocuSign by 2.2% during the first quarter. SeaCrest Wealth Management LLC now owns 11,327 shares of the company’s stock worth $675,000 after acquiring an additional 240 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

DOCU has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Citigroup raised their target price on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Robert W. Baird raised their target price on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Royal Bank of Canada raised their target price on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Finally, Morgan Stanley lowered their target price on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.45.

DocuSign Price Performance

NASDAQ:DOCU opened at $55.31 on Thursday. The firm has a market cap of $11.32 billion, a price-to-earnings ratio of 106.37, a price-to-earnings-growth ratio of 9.73 and a beta of 0.93. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76. The firm’s fifty day moving average price is $55.48 and its 200 day moving average price is $56.00.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 19.50%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. As a group, analysts expect that DocuSign, Inc. will post 0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $52.17, for a total transaction of $772,063.83. Following the sale, the insider now directly owns 68,083 shares in the company, valued at approximately $3,551,890.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction on Monday, June 24th. The stock was sold at an average price of $52.17, for a total transaction of $772,063.83. Following the completion of the transaction, the insider now owns 68,083 shares of the company’s stock, valued at approximately $3,551,890.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Blake Jeffrey Grayson sold 49,123 shares of DocuSign stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $51.15, for a total value of $2,512,641.45. Following the transaction, the chief financial officer now directly owns 70,473 shares of the company’s stock, valued at approximately $3,604,693.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 480,618 shares of company stock worth $25,432,336. Corporate insiders own 1.66% of the company’s stock.

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.