Bennett Selby Investments LP Has $377,000 Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Bennett Selby Investments LP cut its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 11.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,071 shares of the company’s stock after selling 821 shares during the period. Bennett Selby Investments LP’s holdings in DocuSign were worth $377,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV boosted its stake in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after acquiring an additional 500 shares in the last quarter. Mather Group LLC. grew its position in shares of DocuSign by 4,338.5% in the second 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. Register Financial Advisors LLC acquired a new stake in DocuSign in the 1st quarter valued at approximately $37,000. nVerses Capital LLC bought a new position in DocuSign during the second quarter worth $48,000. Finally, Quarry LP acquired a new position in DocuSign during the 2nd quarter valued at $53,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DOCU shares. Wells Fargo & Company boosted their price objective on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Royal Bank of Canada lifted their price objective on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Robert W. Baird upped their target price on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Finally, JMP Securities restated a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $63.40.

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now directly owns 70,748 shares in the company, valued at approximately $3,923,684.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total transaction of $508,725.00. Following the transaction, the insider now owns 43,301 shares of the company’s stock, valued at approximately $2,937,106.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction on 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 sale, the insider now directly owns 70,748 shares of the company’s stock, valued at $3,923,684.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 418,002 shares of company stock valued at $22,471,973. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Stock Down 0.5 %

Shares of DocuSign stock opened at $68.89 on Friday. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $69.78. The stock has a market capitalization of $13.98 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 7.33 and a beta of 0.92. The company has a 50-day simple moving average of $58.30 and a 200 day simple moving average of $56.84.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate 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 company’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $0.09 earnings per share. On average, equities analysts anticipate that DocuSign, Inc. will post 1.01 earnings per share for the current 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.