Audent Global Asset Management LLC Lowers Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Audent Global Asset Management LLC reduced its stake in DocuSign, Inc. (NASDAQ:DOCU) by 66.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,683 shares of the company’s stock after selling 11,267 shares during the quarter. Audent Global Asset Management LLC’s holdings in DocuSign were worth $353,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of DOCU. Comerica Bank boosted its stake in shares of DocuSign by 228.8% in the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after buying an additional 20,110 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of DocuSign by 455.7% in the first quarter. Cetera Investment Advisers now owns 45,709 shares of the company’s stock valued at $2,722,000 after buying an additional 37,484 shares in the last quarter. Cetera Advisors LLC boosted its stake in shares of DocuSign by 38.0% in the first quarter. Cetera Advisors LLC now owns 12,866 shares of the company’s stock valued at $766,000 after buying an additional 3,542 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of 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 buying an additional 500 shares in the last quarter. Finally, DNB Asset Management AS boosted its stake in shares of DocuSign by 16.1% in the second quarter. DNB Asset Management AS now owns 33,600 shares of the company’s stock valued at $1,798,000 after buying an additional 4,668 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on DOCU shares. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Wells Fargo & Company boosted their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Royal Bank of Canada boosted their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Citigroup boosted their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, JMP Securities boosted their target price on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. 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 MarketBeat, the company has a consensus rating of “Hold” and an average price target of $65.80.

Insider Transactions at DocuSign

In related news, insider Robert Chatwani sold 14,799 shares of the company’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 transaction, the insider now directly owns 70,748 shares in the company, valued at approximately $3,923,684.08. This represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 7,764 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 107,825 shares of the company’s stock, valued at $7,542,358.75. The trade was a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,558 shares of company stock valued at $4,272,768 over the last three months. 1.66% of the stock is currently owned by insiders.

DocuSign Stock Down 0.9 %

NASDAQ DOCU opened at $79.69 on Monday. DocuSign, Inc. has a fifty-two week low of $42.76 and a fifty-two week high of $86.75. The stock has a market cap of $16.17 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 8.25 and a beta of 0.90. The business has a fifty day moving average of $71.99 and a 200-day moving average of $61.08.

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

About DocuSign

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.