DocuSign, Inc. (NASDAQ:DOCU) Position Lessened by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. trimmed its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 11.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,585 shares of the company’s stock after selling 2,617 shares during the period. Coronation Fund Managers Ltd.’s holdings in DocuSign were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its position in DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after buying an additional 500 shares during the last quarter. Capital Analysts LLC increased its position in DocuSign by 781.7% during the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after buying an additional 469 shares during the last quarter. Mather Group LLC. increased its position in 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 buying an additional 564 shares during the last quarter. Register Financial Advisors LLC acquired a new position in DocuSign during the first quarter worth $37,000. Finally, ICA Group Wealth Management LLC acquired a new position in DocuSign during the fourth quarter worth $39,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $54.92, for a total value of $27,405.08. Following the completion of the transaction, the director now owns 6,668 shares in the company, valued at $366,206.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $54.92, for a total value of $27,405.08. Following the completion of the transaction, the director now owns 6,668 shares in the company, valued at $366,206.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Shute sold 35,300 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total value of $1,866,311.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 475,192 shares of company stock worth $25,095,034. Insiders own 1.66% of the company’s stock.

DocuSign Stock Up 0.6 %

DOCU traded up $0.34 during midday trading on Friday, reaching $56.80. 1,250,291 shares of the company’s stock were exchanged, compared to its average volume of 2,712,740. The firm has a market capitalization of $11.63 billion, a price-to-earnings ratio of 109.23, a price-to-earnings-growth ratio of 8.34 and a beta of 0.94. DocuSign, Inc. has a one year low of $38.11 and a one year high of $64.76. The business has a 50-day simple moving average of $53.57 and a two-hundred day simple moving average of $55.41.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, June 6th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. The firm had revenue of $709.64 million during the quarter, compared to analysts’ expectations of $706.07 million. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. As a group, research analysts anticipate that DocuSign, Inc. will post 0.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on DOCU shares. Citigroup lowered their price target on DocuSign from $93.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research report on Wednesday, July 10th. Morgan Stanley lowered their price target on DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, June 7th. Royal Bank of Canada lowered their price target on DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a research report on Friday, June 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday. 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. According to data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and an average target price of $59.36.

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.