DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC decreased its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 21.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,379 shares of the company’s stock after selling 1,735 shares during the period. Pzena Investment Management LLC’s holdings in DocuSign were worth $396,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DOCU. J.W. Cole Advisors Inc. raised its holdings in DocuSign by 2.0% during the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after purchasing an additional 155 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in shares of DocuSign by 0.9% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock valued at $1,088,000 after buying an additional 157 shares during the period. V Square Quantitative Management LLC grew its holdings in DocuSign by 6.0% during the third quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock worth $187,000 after acquiring an additional 172 shares during the period. Dakota Wealth Management raised its position in 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. Finally, Covestor Ltd lifted its holdings in DocuSign by 5.8% in the third quarter. Covestor Ltd now owns 3,306 shares of the company’s stock valued at $205,000 after acquiring an additional 182 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada increased their price target 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. Bank of America increased their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. Finally, Wells Fargo & Company lifted their price objective on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.40.

Insider Buying and Selling at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred 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 directly owns 7,202 shares in the company, valued at $407,345.12. The trade was a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were 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 approximately $3,923,684.08. This represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,558 shares of company stock worth $4,272,768 in the last 90 days. 1.66% of the stock is owned by company insiders.

DocuSign Stock Down 0.9 %

Shares of NASDAQ:DOCU opened at $78.81 on Thursday. The company has a market capitalization of $16.00 billion, a P/E ratio of 16.63, a P/E/G ratio of 8.37 and a beta of 0.90. DocuSign, Inc. has a 52-week low of $42.12 and a 52-week high of $83.68. The stock’s fifty day simple moving average is $68.00 and its 200-day simple moving average is $59.80.

DocuSign (NASDAQ:DOCU) last released 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. The company had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.09 EPS. On average, sell-side analysts anticipate that DocuSign, Inc. will post 1.01 earnings per share for the current year.

DocuSign Profile

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.