HighTower Advisors LLC Reduces Stock Position in Docusign Inc. $DOCU

HighTower Advisors LLC cut its holdings in Docusign Inc. (NASDAQ:DOCU) by 82.2% during the 2nd quarter, Holdings Channel reports. The firm owned 19,355 shares of the company’s stock after selling 89,082 shares during the period. HighTower Advisors LLC’s holdings in Docusign were worth $860,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Docusign in the 2nd quarter worth approximately $3,247,000. California State Teachers Retirement System increased its stake in shares of Docusign by 4,016.6% during the second quarter. California State Teachers Retirement System now owns 9,960,652 shares of the company’s stock valued at $442,452,000 after buying an additional 9,718,686 shares during the period. Ameritas Advisory Services LLC increased its stake in shares of Docusign by 225.5% during the second quarter. Ameritas Advisory Services LLC now owns 25,109 shares of the company’s stock valued at $1,115,000 after buying an additional 17,395 shares during the period. HB Wealth Management LLC raised its holdings in shares of Docusign by 30.0% during the second quarter. HB Wealth Management LLC now owns 11,632 shares of the company’s stock valued at $517,000 after acquiring an additional 2,687 shares in the last quarter. Finally, Compass Financial Management LLC bought a new position in shares of Docusign during the second quarter valued at approximately $61,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Jefferies Financial Group raised their price target on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, June 5th. Evercore set a $65.00 price objective on shares of Docusign in a report on Friday, September 4th. Morgan Stanley lifted their target price on shares of Docusign from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 4th. Bank of America boosted their price target on shares of Docusign from $58.00 to $64.00 and gave the company an “underperform” rating in a research report on Friday, September 4th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $86.00 price target on shares of Docusign in a research note on Friday, September 4th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Docusign presently has an average rating of “Hold” and a consensus target price of $67.33.

Insiders Place Their Bets

In other news, Director Teresa Briggs sold 548 shares of Docusign stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $64.60, for a total transaction of $35,400.80. Following the completion of the transaction, the director directly owned 10,811 shares in the company, valued at approximately $698,390.60. This trade represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $46.02, for a total value of $1,208,025.00. Following the completion of the sale, the chief executive officer directly owned 159,038 shares in the company, valued at approximately $7,318,928.76. This represents a 14.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 182,150 shares of company stock valued at $10,443,740. Insiders own 0.59% of the company’s stock.

Docusign Trading Up 6.3%

Shares of DOCU stock opened at $69.76 on Tuesday. The company’s fifty day moving average price is $58.21 and its 200-day moving average price is $50.86. The stock has a market cap of $13.04 billion, a PE ratio of 42.54, a price-to-earnings-growth ratio of 2.47 and a beta of 0.90. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.07. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The company had revenue of $875.75 million during the quarter, compared to analyst estimates of $867.22 million. During the same period last year, the business earned $0.30 EPS. Docusign’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts forecast that Docusign Inc. will post 2.1 earnings per share for the current fiscal year.

About Docusign

DocuSign, Inc is a provider of digital agreement management and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping businesses replace paper-based contracting processes with digital workflows.

The company’s products and services include DocuSign eSignature, which supports electronic signing and authentication, as well as tools for contract lifecycle management, agreement preparation, identity verification, notarial services and workflow automation.