WINTON GROUP Ltd Trims Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

WINTON GROUP Ltd lessened its stake in DocuSign, Inc. (NASDAQ:DOCU) by 21.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,503 shares of the company’s stock after selling 6,803 shares during the quarter. WINTON GROUP Ltd’s holdings in DocuSign were worth $1,311,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DOCU. Massmutual Trust Co. FSB ADV lifted its holdings in 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 acquiring an additional 500 shares during the period. Mather Group LLC. lifted its stake in shares of DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares during the period. Register Financial Advisors LLC purchased a new stake in DocuSign during the first quarter worth $37,000. ICA Group Wealth Management LLC purchased a new position in DocuSign in the fourth quarter valued at $39,000. Finally, nVerses Capital LLC purchased a new position in DocuSign in the second quarter valued at $48,000. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Price Performance

Shares of DocuSign stock opened at $56.63 on Monday. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76. The stock has a market cap of $11.59 billion, a P/E ratio of 108.90, a P/E/G ratio of 5.99 and a beta of 0.93. The stock’s 50 day simple moving average is $55.57 and its 200-day simple moving average is $56.09.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm earned $0.09 earnings per share. DocuSign’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, research analysts expect that DocuSign, Inc. will post 0.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on DOCU. Robert W. Baird raised their target price on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Citigroup boosted 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. JMP Securities reiterated a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a research report on Thursday, September 5th. Royal Bank of Canada lifted their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Two investment 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’s stock. According to data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and a consensus target price of $61.45.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the completion of the transaction, the chief executive officer now owns 102,193 shares in the company, valued at $6,038,584.37. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Daniel D. Springer sold 70,983 shares of DocuSign stock in a transaction on 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 transaction, the director now directly owns 891,373 shares of the company’s stock, valued at approximately $44,426,030.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the completion of the transaction, the chief executive officer now owns 102,193 shares in the company, valued at approximately $6,038,584.37. The disclosure for this sale can be found here. Over the last three months, insiders sold 480,618 shares of company stock worth $25,432,336. Company insiders own 1.66% of the company’s stock.

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.