Essex LLC Cuts Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Essex LLC trimmed its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,688 shares of the company’s stock after selling 385 shares during the period. Essex LLC’s holdings in DocuSign were worth $415,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its holdings in DocuSign by 5,000.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares in the last quarter. Register Financial Advisors LLC bought a new position in shares of DocuSign during the first quarter worth $37,000. nVerses Capital LLC purchased a new position in DocuSign during the second quarter valued at $48,000. Finally, Quarry LP bought a new stake in DocuSign in the 2nd quarter valued at $53,000. Institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

NASDAQ:DOCU opened at $72.30 on Friday. The firm has a market capitalization of $14.80 billion, a PE ratio of 139.04, a PEG ratio of 7.33 and a beta of 0.92. The stock’s fifty day moving average is $60.31 and its 200 day moving average is $57.26. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $73.80.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $727.20 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts forecast that DocuSign, Inc. will post 1.01 EPS for the current year.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several research reports. Bank of America increased their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. 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 note on Friday, September 6th. Robert W. Baird increased their target price on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, JMP Securities restated a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.40.

Insiders Place Their Bets

In other news, Director Teresa Briggs sold 534 shares of the company’s 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 transaction, the director now owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel D. Springer sold 287,052 shares of DocuSign stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the sale, the director now owns 923,445 shares of the company’s stock, valued at $49,662,872.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 427,554 shares of company stock valued at $23,129,150 over the last 90 days. Insiders own 1.66% of the company’s stock.

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.