Tredje AP fonden Sells 537 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Tredje AP fonden lessened its stake in DocuSign, Inc. (NASDAQ:DOCU) by 1.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,634 shares of the company’s stock after selling 537 shares during the quarter. Tredje AP fonden’s holdings in DocuSign were worth $1,853,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOCU. Massmutual Trust Co. FSB ADV grew its holdings 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 purchasing an additional 500 shares in the last quarter. Mather Group LLC. increased 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 buying an additional 564 shares during the last quarter. Register Financial Advisors LLC bought a new stake in shares of DocuSign in the 1st quarter worth about $37,000. ICA Group Wealth Management LLC purchased a new stake in shares of DocuSign during the 4th quarter valued at about $39,000. Finally, nVerses Capital LLC purchased a new position in DocuSign in the second quarter worth about $48,000. Institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In other news, Director Daniel D. Springer sold 70,983 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the sale, the director now owns 891,373 shares in the company, valued at approximately $44,426,030.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction 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 sale, the insider now owns 68,083 shares of the company’s stock, valued at approximately $3,551,890.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel D. Springer sold 70,983 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the transaction, the director now directly owns 891,373 shares of the company’s stock, valued at $44,426,030.32. The disclosure for this sale can be found here. Insiders have sold a total of 460,864 shares of company stock worth $24,549,227 in the last three months. Corporate insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

DocuSign stock opened at $57.97 on Friday. The company has a market capitalization of $11.87 billion, a PE ratio of 111.48, a P/E/G ratio of 5.99 and a beta of 0.93. The company has a 50 day moving average price of $55.87 and a 200-day moving average price of $56.17. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $64.76.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.18% and a net margin of 34.56%. DocuSign’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. On average, analysts forecast that DocuSign, Inc. will post 0.99 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup upped their price objective on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Wells Fargo & Company increased their price target on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Morgan Stanley cut their price objective on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, June 7th. Finally, Piper Sandler reduced their target price on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, 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.