Summit Trail Advisors LLC Sells 1,633 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Summit Trail Advisors LLC lowered its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 13.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,812 shares of the company’s stock after selling 1,633 shares during the quarter. Summit Trail Advisors LLC’s holdings in DocuSign were worth $671,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its stake in DocuSign by 5,000.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of DocuSign during the 3rd quarter valued at about $47,000. nVerses Capital LLC purchased a new position in shares of DocuSign during the 2nd quarter valued at about $48,000. Finally, Quarry LP purchased a new position in shares of DocuSign during the 2nd quarter valued at about $53,000. 77.64% of the stock is owned by institutional investors.

DocuSign Stock Performance

DOCU opened at $85.51 on Tuesday. The stock has a market capitalization of $17.36 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 8.79 and a beta of 0.90. The stock’s 50 day moving average price is $70.04 and its 200-day moving average price is $60.46. DocuSign, Inc. has a 52-week low of $42.13 and a 52-week high of $86.50.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.80 by $0.17. The business 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 company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. Research analysts forecast that DocuSign, Inc. will post 1.01 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value 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 trade represents a 17.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the sale, the director now directly owns 7,202 shares in the company, valued at $407,345.12. The trade was a 6.90 % 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 three months. Company insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Bank of America increased their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada upped their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Citigroup lifted their price objective on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Two 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 MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $65.80.

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.