DocuSign, Inc. (NASDAQ:DOCU) Stock Holdings Reduced by Summit Global Investments

Summit Global Investments cut its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 83.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,428 shares of the company’s stock after selling 22,079 shares during the period. Summit Global Investments’ holdings in DocuSign were worth $263,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in DOCU. Los Angeles Capital Management LLC boosted its holdings in DocuSign by 278.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 551,726 shares of the company’s stock valued at $32,800,000 after purchasing an additional 405,976 shares in the last quarter. JFG Wealth Management LLC bought a new stake in DocuSign during the 4th quarter worth about $357,000. Mine & Arao Wealth Creation & Management LLC. lifted its holdings in DocuSign by 17.4% in the fourth quarter. Mine & Arao Wealth Creation & Management LLC. now owns 3,207 shares of the company’s stock valued at $191,000 after buying an additional 475 shares during the period. Victory Capital Management Inc. lifted its stake in shares of DocuSign by 532.5% in the 4th quarter. Victory Capital Management Inc. now owns 139,255 shares of the company’s stock valued at $8,279,000 after purchasing an additional 117,238 shares during the period. Finally, Jackson Creek Investment Advisors LLC bought a new position in DocuSign during the fourth quarter worth about $409,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DocuSign

In other DocuSign news, Director Teresa Briggs sold 499 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which is available at this link. In other DocuSign news, Director Teresa Briggs sold 499 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $52.99, for a total transaction of $26,442.01. Following the completion of the transaction, the director now directly owns 6,169 shares of the company’s stock, valued at approximately $326,895.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,765 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.31, for a total transaction of $413,952.15. Following the completion of the sale, the chief executive officer now directly owns 104,002 shares in the company, valued at $5,544,346.62. The disclosure for this sale can be found here. Insiders sold a total of 55,277 shares of company stock worth $3,159,756 over the last three months. Corporate insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of analyst reports. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and raised their price target for the company from $48.00 to $62.00 in a research note on Friday, April 12th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, April 12th. Morgan Stanley upgraded DocuSign from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $49.00 to $64.00 in a research note on Tuesday, January 16th. JMP Securities restated a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research note on Friday, April 12th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $59.00 price objective on shares of DocuSign in a research report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, DocuSign presently has an average rating of “Hold” and an average price target of $60.25.

DocuSign Trading Down 0.5 %

Shares of DOCU opened at $59.50 on Tuesday. The company has a market cap of $12.22 billion, a P/E ratio of 165.28, a P/E/G ratio of 5.17 and a beta of 0.88. DocuSign, Inc. has a twelve month low of $38.11 and a twelve month high of $64.76. The company’s fifty day simple moving average is $57.39 and its 200-day simple moving average is $53.51.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06. The company had revenue of $712.39 million for the quarter, compared to the consensus estimate of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. Analysts predict that DocuSign, Inc. will post 0.87 earnings per share for the current fiscal 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.