DocuSign, Inc. (NASDAQ:DOCU) Stake Lessened by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lowered its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 87.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,059 shares of the company’s stock after selling 49,004 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in DocuSign were worth $438,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Swedbank AB lifted its holdings in shares of DocuSign by 6.1% in the third quarter. Swedbank AB now owns 124,131 shares of the company’s stock valued at $7,707,000 after purchasing an additional 7,090 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of DocuSign by 39.6% during the third quarter. Cerity Partners LLC now owns 101,600 shares of the company’s stock worth $6,308,000 after acquiring an additional 28,829 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of DocuSign by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after acquiring an additional 16,014 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of DocuSign by 1.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 32,391 shares of the company’s stock worth $2,011,000 after acquiring an additional 447 shares in the last quarter. Finally, Integrated Investment Consultants LLC purchased a new stake in shares of DocuSign during the third quarter worth $3,710,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Activity

In related news, CFO Blake Jeffrey Grayson sold 14,036 shares of DocuSign stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total transaction of $778,576.92. Following the sale, the chief financial officer now directly owns 87,611 shares of the company’s stock, valued at $4,859,782.17. This trade represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the sale, the chief executive officer now directly owns 102,193 shares in the company, valued at approximately $6,038,584.37. This trade represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on DOCU shares. JMP Securities increased their price objective on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Bank of America increased their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Robert W. Baird increased their price objective on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada increased 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $65.80.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $79.69 on Friday. The company has a market cap of $16.17 billion, a P/E ratio of 16.81, a P/E/G ratio of 8.32 and a beta of 0.90. The stock’s 50-day moving average is $71.99 and its 200-day moving average is $61.07. DocuSign, Inc. has a 52-week low of $42.76 and a 52-week high of $86.75.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results 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. The company had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share. As a group, equities analysts predict that DocuSign, Inc. will post 1.03 EPS for the current year.

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.