DocuSign, Inc. (NASDAQ:DOCU) Holdings Trimmed by Destiny Capital Corp CO

by · The Cerbat Gem

Destiny Capital Corp CO lowered its holdings in DocuSign, Inc. (NASDAQ:DOCU – Free Report) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,903 shares of the company’s stock after selling 1,340 shares during the period. DocuSign makes up 1.0% of Destiny Capital Corp CO’s portfolio, making the stock its 16th biggest position. Destiny Capital Corp CO’s holdings in DocuSign were worth $1,670,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of DOCU. Jericho Capital Asset Management L.P. grew its position in DocuSign by 316.6% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock valued at $203,536,000 after purchasing an additional 2,597,489 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of DocuSign during the 2nd quarter valued at $115,795,000. Pacer Advisors Inc. increased its stake in shares of DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after acquiring an additional 1,541,816 shares during the last quarter. KBC Group NV raised its holdings in shares of DocuSign by 209.8% during the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock worth $71,830,000 after acquiring an additional 783,419 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in DocuSign by 18.3% during the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after purchasing an additional 576,414 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insiders Place Their Bets

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total transaction of $820,752.54. Following the completion of the transaction, the insider now directly owns 70,748 shares in the company, valued at $3,923,684.08. This represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction on 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 $407,345.12. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,558 shares of company stock worth $4,272,768 over the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCU has been the topic of several research reports. Wells Fargo & Company upped their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Thursday, September 5th. Citigroup lifted their target price on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Bank of America increased 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. Finally, Royal Bank of Canada raised their price objective on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $63.40.

Check Out Our Latest Report on DocuSign

DocuSign Trading Down 1.6 %

Shares of DOCU stock opened at $79.11 on Friday. The firm has a market capitalization of $16.06 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 8.66 and a beta of 0.90. DocuSign, Inc. has a 1 year low of $42.12 and a 1 year high of $83.68. The firm’s fifty day simple moving average is $67.05 and its 200 day simple moving average is $59.48.

DocuSign (NASDAQ:DOCU – Get Free Report) last posted its quarterly earnings data 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 company had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. During the same quarter in the previous year, the firm posted $0.09 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that DocuSign, Inc. will post 1.01 EPS for the current fiscal year.

DocuSign Company Profile

(Free Report)

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.

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