Royal London Asset Management Ltd. Sells 389 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Royal London Asset Management Ltd. reduced its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 0.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,024 shares of the company’s stock after selling 389 shares during the period. Royal London Asset Management Ltd.’s holdings in DocuSign were worth $4,121,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Choreo LLC purchased a new position in shares of DocuSign in the 2nd quarter worth $242,000. Quest Partners LLC grew its stake in shares of DocuSign by 1,011.1% in the 2nd quarter. Quest Partners LLC now owns 10,555 shares of the company’s stock worth $565,000 after buying an additional 9,605 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of DocuSign by 141.7% in the 2nd quarter. Acadian Asset Management LLC now owns 526,195 shares of the company’s stock worth $28,143,000 after buying an additional 308,493 shares in the last quarter. Ceera Investments LLC grew its stake in shares of DocuSign by 15.7% in the 2nd quarter. Ceera Investments LLC now owns 78,155 shares of the company’s stock worth $4,181,000 after buying an additional 10,582 shares in the last quarter. Finally, Savant Capital LLC grew its stake in shares of DocuSign by 1.8% in the 2nd quarter. Savant Capital LLC now owns 56,678 shares of the company’s stock worth $3,032,000 after buying an additional 1,025 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Price Performance

Shares of DOCU opened at $56.63 on Friday. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76. The company has a 50-day moving average of $55.57 and a 200 day moving average of $56.07. The firm has a market capitalization of $11.59 billion, a price-to-earnings ratio of 108.90, a PEG ratio of 5.99 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. During the same quarter in the previous year, the business posted $0.09 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that DocuSign, Inc. will post 0.99 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Stephen Shute sold 35,300 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $52.87, for a total value of $1,866,311.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Stephen Shute sold 35,300 shares of DocuSign stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $52.87, for a total value of $1,866,311.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $52.17, for a total transaction of $772,063.83. Following the completion of the transaction, the insider now directly owns 68,083 shares in the company, valued at approximately $3,551,890.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 480,618 shares of company stock worth $25,432,336. 1.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

DOCU has been the subject of a number of recent analyst reports. Robert W. Baird lifted their price target on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada lifted their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research note on Thursday, September 5th. Wells Fargo & Company lifted their price target on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Finally, Citigroup lifted their price target on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $61.45.

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.