Pzena Investment Management LLC Decreases Stake in DocuSign, Inc. (NASDAQ:DOCU)

Pzena Investment Management LLC trimmed its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 21.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,379 shares of the company’s stock after selling 1,735 shares during the quarter. Pzena Investment Management LLC’s holdings in DocuSign were worth $396,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Massmutual Trust Co. FSB ADV increased its position in shares of 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 during the last quarter. Mather Group LLC. raised its stake in DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after buying an additional 564 shares in the last quarter. Reston Wealth Management LLC bought a new position in DocuSign during the 3rd quarter worth approximately $47,000. nVerses Capital LLC acquired a new position in shares of DocuSign in the 2nd quarter worth approximately $48,000. Finally, Quarry LP bought a new stake in shares of DocuSign in the 2nd quarter valued at approximately $53,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the sale, the chief executive officer now directly owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. This represents a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total transaction of $820,752.54. Following the completion of the transaction, the insider now directly owns 70,748 shares in the company, valued at $3,923,684.08. This represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,558 shares of company stock worth $4,272,768 over the last ninety days. Company insiders own 1.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on DOCU. Citigroup raised their price objective on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Wells Fargo & Company lifted their price target on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. 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 report on Friday, September 6th. Finally, Robert W. Baird upped their target price on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, DocuSign presently has an average rating of “Hold” and a consensus price target of $63.40.

DocuSign Stock Down 0.9 %

Shares of NASDAQ DOCU opened at $78.81 on Thursday. The stock has a market cap of $16.00 billion, a P/E ratio of 16.63, a P/E/G ratio of 8.37 and a beta of 0.90. The firm’s 50-day simple moving average is $68.00 and its 200 day simple moving average is $59.80. DocuSign, Inc. has a fifty-two week low of $42.12 and a fifty-two week high of $83.68.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 EPS. On average, sell-side analysts anticipate 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.