DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board trimmed its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 39.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 521,800 shares of the company’s stock after selling 342,300 shares during the period. Canada Pension Plan Investment Board owned 0.25% of DocuSign worth $27,916,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Comerica Bank grew its stake in DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after acquiring an additional 20,110 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of DocuSign by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after purchasing an additional 417,352 shares during the last quarter. KBC Group NV lifted its position in DocuSign by 119.3% during the fourth quarter. KBC Group NV now owns 739,196 shares of the company’s stock worth $43,945,000 after buying an additional 402,084 shares in the last quarter. Retirement Systems of Alabama acquired a new position in DocuSign during the first quarter worth $8,700,000. Finally, PGGM Investments grew its holdings in DocuSign by 36.7% in the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock valued at $2,665,000 after buying an additional 13,379 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DocuSign

In related news, Director Daniel D. Springer sold 287,052 shares of DocuSign stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $53.78, for a total value of $15,437,656.56. Following the completion of the transaction, the director now directly owns 923,445 shares in the company, valued at $49,662,872.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Daniel D. Springer sold 70,983 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the completion of the transaction, the director now owns 891,373 shares in the company, valued at $44,426,030.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daniel D. Springer sold 287,052 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total value of $15,437,656.56. Following the completion of the transaction, the director now directly owns 923,445 shares in the company, valued at approximately $49,662,872.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 446,065 shares of company stock valued at $23,777,163. 1.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Piper Sandler lowered their price target on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Royal Bank of Canada boosted their target price on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. JMP Securities restated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a report on Thursday, September 5th. Citigroup upped their price objective on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Bank of America raised their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $61.45.

DocuSign Trading Up 0.1 %

DOCU stock opened at $57.97 on Monday. The business’s fifty day moving average price is $55.87 and its 200 day moving average price is $56.23. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $64.76. 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.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter in the prior year, the company earned $0.09 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. Research analysts predict that DocuSign, Inc. will post 0.99 EPS for the current fiscal 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.