Victory Capital Management Inc. Trims Position in DocuSign, Inc. (NASDAQ:DOCU)

Victory Capital Management Inc. lowered its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 44.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 131,625 shares of the company’s stock after selling 105,094 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of DocuSign worth $7,042,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DOCU. Massmutual Trust Co. FSB ADV grew its position in DocuSign by 5,000.0% in the 2nd 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 during the last quarter. Mather Group LLC. increased its stake in shares of DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after acquiring an additional 564 shares during the period. Register Financial Advisors LLC purchased a new position in DocuSign during the first quarter worth about $37,000. ICA Group Wealth Management LLC acquired a new stake in DocuSign in the fourth quarter valued at about $39,000. Finally, nVerses Capital LLC purchased a new stake in DocuSign in the 2nd quarter valued at approximately $48,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,911 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $53.77, for a total value of $425,374.47. Following the completion of the transaction, the chief executive officer now directly owns 117,643 shares in the company, valued at approximately $6,325,664.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Allan C. Thygesen sold 7,911 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $53.77, for a total transaction of $425,374.47. Following the completion of the transaction, the chief executive officer now owns 117,643 shares of the company’s stock, valued at approximately $6,325,664.11. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $54.89, for a total transaction of $424,025.25. Following the completion of the transaction, the chief executive officer now owns 109,918 shares in the company, valued at approximately $6,033,399.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 480,618 shares of company stock valued at $25,432,336. Company insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

DocuSign stock opened at $56.63 on Monday. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $64.76. The stock has a fifty day moving average of $55.57 and a two-hundred day moving average of $56.09. The company 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 data on Thursday, September 5th. The company reported $0.97 EPS 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 firm had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter last year, the business posted $0.09 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, analysts forecast that DocuSign, Inc. will post 0.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DOCU. Morgan Stanley decreased their price target on DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 7th. Bank of America upped their price target on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Piper Sandler reduced their price objective on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Finally, Wells Fargo & Company lifted 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and an average target price of $61.45.

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.