CNB Bank Has $60,000 Holdings in DocuSign, Inc. (NASDAQ:DOCU)

CNB Bank lessened its position in DocuSign, Inc. (NASDAQ:DOCU) by 23.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,017 shares of the company’s stock after selling 317 shares during the period. CNB Bank’s holdings in DocuSign were worth $60,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in DocuSign by 2.4% in the third quarter. Vanguard Group Inc. now owns 20,982,387 shares of the company’s stock valued at $881,260,000 after acquiring an additional 482,472 shares during the period. Capital World Investors lifted its holdings in shares of DocuSign by 128.3% in the first quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock valued at $608,853,000 after purchasing an additional 3,193,727 shares in the last quarter. Morgan Stanley lifted its holdings in shares of DocuSign by 1.7% in the third quarter. Morgan Stanley now owns 3,219,450 shares of the company’s stock valued at $135,217,000 after purchasing an additional 53,553 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of DocuSign by 1.9% in the first quarter. Clearbridge Investments LLC now owns 3,186,783 shares of the company’s stock valued at $341,368,000 after purchasing an additional 58,555 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of DocuSign by 0.3% in the first quarter. Renaissance Technologies LLC now owns 2,872,900 shares of the company’s stock valued at $167,490,000 after purchasing an additional 8,300 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity

In other news, CEO Allan C. Thygesen sold 7,680 shares of DocuSign stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $61.27, for a total value of $470,553.60. Following the completion of the transaction, the chief executive officer now directly owns 111,767 shares in the company, valued at $6,847,964.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Allan C. Thygesen sold 7,680 shares of DocuSign stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $61.27, for a total value of $470,553.60. Following the completion of the transaction, the chief executive officer now directly owns 111,767 shares in the company, valued at $6,847,964.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $52.99, for a total value of $26,442.01. Following the completion of the transaction, the director now owns 6,169 shares of the company’s stock, valued at $326,895.31. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,871 shares of company stock worth $3,176,199. 17.80% of the stock is owned by corporate insiders.

DocuSign Price Performance

Shares of DOCU traded down $1.34 during mid-day trading on Friday, hitting $55.70. The stock had a trading volume of 2,197,586 shares, compared to its average volume of 1,551,334. The firm has a market cap of $11.44 billion, a P/E ratio of 154.73, a PEG ratio of 4.99 and a beta of 0.89. The business has a fifty day moving average price of $55.90 and a 200-day moving average price of $52.12. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.06. The firm had revenue of $712.39 million for the quarter, compared to analyst estimates of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. As a group, research analysts expect that DocuSign, Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DOCU shares. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, April 12th. Wells Fargo & Company dropped their target price on DocuSign from $55.00 to $45.00 and set an “underweight” rating on the stock in a report on Monday, February 5th. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $48.00 to $62.00 in a report on Friday, April 12th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a report on Friday, April 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $59.00 price target on shares of DocuSign in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $60.25.

DocuSign Company 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.