Centaurus Financial Inc. Reduces Stake in DocuSign, Inc. (NASDAQ:DOCU)

Centaurus Financial Inc. cut its stake in DocuSign, Inc. (NASDAQ:DOCU) by 9.3% in the third quarter, Holdings Channel reports. The fund owned 5,440 shares of the company’s stock after selling 555 shares during the period. Centaurus Financial Inc.’s holdings in DocuSign were worth $338,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of DOCU. Thrivent Financial for Lutherans purchased a new stake in shares of DocuSign in the second quarter valued at about $115,795,000. Pacer Advisors Inc. boosted its holdings in DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after purchasing an additional 1,541,816 shares during the last quarter. KBC Group NV grew its stake in shares of DocuSign by 209.8% in the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after buying an additional 783,419 shares during the period. Renaissance Technologies LLC increased its holdings in shares of DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after buying an additional 576,414 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of DocuSign by 151.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock valued at $46,324,000 after buying an additional 521,292 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

DOCU has been the subject of several analyst reports. JMP Securities increased their price objective on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Wells Fargo & Company raised their price objective on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Robert W. Baird upped their target price on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research 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 stock a “neutral” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada boosted 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus price target of $65.80.

Insider Activity at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 14,036 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total value of $778,576.92. Following the transaction, the chief financial officer now owns 87,611 shares of the company’s stock, valued at $4,859,782.17. This represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the transaction, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at approximately $6,038,584.37. This represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,558 shares of company stock valued at $4,272,768 over the last 90 days. 1.66% of the stock is owned by corporate insiders.

DocuSign Stock Down 0.2 %

NASDAQ:DOCU opened at $85.30 on Wednesday. DocuSign, Inc. has a 52 week low of $42.13 and a 52 week high of $86.75. The company has a fifty day simple moving average of $70.63 and a two-hundred day simple moving average of $60.66. The company has a market cap of $17.31 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 8.79 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. DocuSign’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. On average, analysts expect that DocuSign, Inc. will post 1.01 EPS 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.