Tidal Investments LLC Cuts Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Tidal Investments LLC trimmed its position in DocuSign, Inc. (NASDAQ:DOCU) by 16.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 37,751 shares of the company’s stock after selling 7,195 shares during the period. Tidal Investments LLC’s holdings in DocuSign were worth $3,395,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DOCU. State of Wyoming increased its position in shares of DocuSign by 178.7% during the fourth quarter. State of Wyoming now owns 4,565 shares of the company’s stock valued at $411,000 after acquiring an additional 2,927 shares during the last quarter. Strategic Global Advisors LLC boosted its position in DocuSign by 5.8% in the fourth quarter. Strategic Global Advisors LLC now owns 22,598 shares of the company’s stock worth $2,032,000 after purchasing an additional 1,233 shares during the last quarter. Toronto Dominion Bank grew its stake in DocuSign by 1.3% in the 4th quarter. Toronto Dominion Bank now owns 26,508 shares of the company’s stock valued at $2,384,000 after purchasing an additional 349 shares during the period. Snowden Capital Advisors LLC purchased a new stake in shares of DocuSign during the 4th quarter valued at $546,000. Finally, Siemens Fonds Invest GmbH purchased a new stake in shares of DocuSign during the 4th quarter valued at $772,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $76.09, for a total value of $608,720.00. Following the transaction, the chief financial officer now directly owns 86,156 shares in the company, valued at $6,555,610.04. This represents a 8.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the sale, the director now owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. This trade represents a 6.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock worth $3,912,239 in the last three months. 1.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

DOCU has been the topic of a number of research analyst reports. UBS Group cut their price target on shares of DocuSign from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. William Blair reaffirmed an “outperform” rating on shares of DocuSign in a research report on Monday, April 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 target price on shares of DocuSign in a research report on Friday, March 14th. Bank of America decreased their price target on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $124.00 price objective on shares of DocuSign in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, DocuSign presently has an average rating of “Hold” and an average target price of $92.46.

DocuSign Stock Performance

Shares of DOCU opened at $85.43 on Thursday. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The stock’s 50-day simple moving average is $81.71 and its 200 day simple moving average is $85.48. The stock has a market capitalization of $17.30 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 earnings per share. On average, research analysts forecast that DocuSign, Inc. will post 1.17 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.