Profund Advisors LLC Sells 9,885 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Profund Advisors LLC lowered its position in DocuSign, Inc. (NASDAQ:DOCU) by 43.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,879 shares of the company’s stock after selling 9,885 shares during the period. Profund Advisors LLC’s holdings in DocuSign were worth $689,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in DOCU. Dakota Wealth Management increased its holdings in shares of DocuSign by 0.8% in the second quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after acquiring an additional 181 shares in the last quarter. New York State Teachers Retirement System increased its stake in DocuSign by 1.0% during the 1st quarter. New York State Teachers Retirement System now owns 18,469 shares of the company’s stock worth $1,100,000 after purchasing an additional 187 shares in the last quarter. Elo Mutual Pension Insurance Co raised its holdings in DocuSign by 1.1% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,848 shares of the company’s stock worth $1,008,000 after buying an additional 214 shares during the period. Motley Fool Asset Management LLC lifted its stake in DocuSign by 6.0% in the first quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company’s stock valued at $236,000 after buying an additional 224 shares in the last quarter. Finally, Optimist Retirement Group LLC lifted its stake in DocuSign by 5.6% in the second quarter. Optimist Retirement Group LLC now owns 4,255 shares of the company’s stock valued at $228,000 after buying an additional 227 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity

In related news, Director Daniel D. Springer sold 287,052 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the transaction, the director now directly owns 923,445 shares of the company’s stock, valued at approximately $49,662,872.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now owns 7,202 shares in the company, valued at approximately $407,345.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel D. Springer sold 287,052 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 446,065 shares of company stock valued at $23,777,163 over the last three months. Insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Robert W. Baird lifted their price target on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Wells Fargo & Company boosted 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. Morgan Stanley decreased their price objective on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. Finally, Citigroup boosted their target price on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.45.

DocuSign Trading Down 0.3 %

Shares of DOCU opened at $58.66 on Wednesday. The company’s fifty day simple moving average is $55.94 and its 200 day simple moving average is $56.28. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76. The company has a market cap of $12.01 billion, a price-to-earnings ratio of 112.81, a PEG ratio of 5.99 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share 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 company had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same period in the previous year, the business earned $0.09 EPS. DocuSign’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, research analysts forecast that DocuSign, Inc. will post 0.99 earnings per share 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.