DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. decreased its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 19.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,555 shares of the company’s stock after selling 1,803 shares during the quarter. iA Global Asset Management Inc.’s holdings in DocuSign were worth $679,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of DOCU. Natixis Advisors LLC acquired a new position in shares of DocuSign in the third quarter worth about $873,000. Caprock Group LLC bought a new stake in DocuSign in the third quarter valued at about $319,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in DocuSign in the third quarter valued at about $312,000. Commerce Bank increased its holdings in DocuSign by 3.6% in the third quarter. Commerce Bank now owns 9,852 shares of the company’s stock valued at $612,000 after buying an additional 341 shares during the last quarter. Finally, Foundry Partners LLC bought a new stake in DocuSign in the third quarter valued at about $553,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Citigroup boosted their price objective on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a report on Friday, March 14th. Bank of America lowered their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 14th. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, March 14th. Finally, Wedbush reaffirmed a “neutral” rating and set a $100.00 target price on shares of DocuSign in a report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, DocuSign currently has an average rating of “Hold” and a consensus price target of $95.00.

DocuSign Price Performance

Shares of DOCU stock opened at $88.06 on Friday. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The firm has a market capitalization of $17.79 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The business has a 50 day simple moving average of $87.54 and a 200 day simple moving average of $80.31.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 earnings per share. On average, equities analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Blake Jeffrey Grayson sold 16,111 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total value of $1,340,435.20. Following the completion of the sale, the chief financial officer now owns 93,960 shares of the company’s stock, valued at $7,817,472. This trade represents a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total value of $676,275.00. Following the completion of the sale, the insider now directly owns 43,781 shares of the company’s stock, valued at approximately $3,947,732.77. This trade represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,851 shares of company stock worth $8,579,369 over the last ninety days. 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.