Pacer Advisors Inc. Decreases Position in DocuSign, Inc. (NASDAQ:DOCU)

Pacer Advisors Inc. reduced its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 5.0% in the third quarter, Holdings Channel.com reports. The fund owned 3,344,290 shares of the company’s stock after selling 175,679 shares during the quarter. Pacer Advisors Inc.’s holdings in DocuSign were worth $207,647,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Massmutual Trust Co. FSB ADV raised 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 purchasing an additional 500 shares in the last quarter. Mather Group LLC. grew its stake in 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 purchasing an additional 564 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of DocuSign in the 3rd quarter valued at about $47,000. nVerses Capital LLC acquired a new position in shares of DocuSign in the 2nd quarter valued at about $48,000. Finally, Quarry LP acquired a new position in DocuSign in the 2nd quarter worth about $53,000. 77.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DOCU shares. Bank of America increased their target price on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company increased 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 increased their price objective on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a research report on Thursday, September 5th. Finally, Robert W. Baird raised their price target on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Two equities research 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. According to MarketBeat, DocuSign presently has an average rating of “Hold” and a consensus target price of $63.40.

DocuSign Stock Performance

Shares of DOCU opened at $78.81 on Thursday. DocuSign, Inc. has a fifty-two week low of $42.12 and a fifty-two week high of $83.68. The stock has a fifty day moving average of $68.47 and a two-hundred day moving average of $59.93. The company has a market capitalization of $16.00 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 8.41 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) 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 company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same period in the previous year, the company earned $0.09 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the transaction, the chief executive officer now owns 102,193 shares in the company, valued at $6,038,584.37. The trade was a 7.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the completion of the sale, the insider now owns 70,748 shares in the company, valued at approximately $3,923,684.08. This trade represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 69,558 shares of company stock valued at $4,272,768. Company 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.