DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. reduced its position in DocuSign, Inc. (NASDAQ:DOCU) by 32.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,618 shares of the company’s stock after selling 3,145 shares during the period. Weatherly Asset Management L. P.’s holdings in DocuSign were worth $393,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. New York State Teachers Retirement System boosted its position in shares of DocuSign by 0.9% in the fourth quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock worth $1,087,000 after buying an additional 163 shares during the period. Whittier Trust Co. increased its holdings in DocuSign by 28.8% during the 4th quarter. Whittier Trust Co. now owns 935 shares of the company’s stock worth $56,000 after purchasing an additional 209 shares during the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of DocuSign by 2.2% during the 4th quarter. SeaCrest Wealth Management LLC now owns 11,087 shares of the company’s stock valued at $606,000 after buying an additional 243 shares during the last quarter. Performa Ltd US LLC raised its holdings in DocuSign by 50.0% in the third quarter. Performa Ltd US LLC now owns 825 shares of the company’s stock valued at $35,000 after acquiring an additional 275 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in DocuSign by 1.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 29,446 shares of the company’s stock worth $1,237,000 after acquiring an additional 297 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

DOCU traded up $0.80 during trading on Wednesday, reaching $57.51. The company had a trading volume of 419,242 shares, compared to its average volume of 3,309,686. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $64.76. The company has a market cap of $11.81 billion, a price-to-earnings ratio of 158.34, a PEG ratio of 4.88 and a beta of 0.89. The firm’s 50-day simple moving average is $56.11 and its 200 day simple moving average is $52.48.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. The business had revenue of $712.39 million for the quarter, compared to analyst estimates of $698.05 million. On average, sell-side analysts expect that DocuSign, Inc. will post 0.86 EPS for the current year.

Insider Activity

In other news, Director Peter Solvik sold 15,000 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. Following the transaction, the director now directly owns 783 shares in the company, valued at approximately $46,980. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other DocuSign news, Director Peter Solvik sold 15,000 shares of DocuSign stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the sale, the director now directly owns 783 shares in the company, valued at $46,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Teresa Briggs sold 499 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total transaction of $26,442.01. Following the transaction, the director now owns 6,169 shares in the company, valued at approximately $326,895.31. The disclosure for this sale can be found here. Insiders sold 54,871 shares of company stock worth $3,176,199 over the last quarter. Corporate insiders own 17.80% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. JMP Securities restated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research report on Friday, April 12th. Morgan Stanley raised shares of DocuSign from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $49.00 to $64.00 in a research note on Tuesday, January 16th. Wells Fargo & Company reduced their price objective on DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research report on Monday, February 5th. Finally, UBS Group raised DocuSign from a “sell” rating to a “neutral” rating and lifted their target price for the company from $48.00 to $62.00 in a research note 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, the stock has an average rating of “Hold” and an average price target 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.