Selective Wealth Management Inc. Sells 7,030 Shares of DocuSign, Inc. (NASDAQ:DOCU)

by · The Cerbat Gem

Selective Wealth Management Inc. trimmed its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU – Free Report) by 11.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,849 shares of the company’s stock after selling 7,030 shares during the quarter. DocuSign makes up about 1.5% of Selective Wealth Management Inc.’s investment portfolio, making the stock its 14th largest holding. Selective Wealth Management Inc.’s holdings in DocuSign were worth $3,602,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Prudential PLC grew its position in shares of DocuSign by 55.7% during the fourth quarter. Prudential PLC now owns 9,702 shares of the company’s stock worth $577,000 after purchasing an additional 3,469 shares in the last quarter. Garner Asset Management Corp purchased a new position in shares of DocuSign in the fourth quarter worth $180,000. Coatue Management LLC bought a new position in shares of DocuSign during the fourth quarter worth $288,274,000. Caz Investments LP grew its stake in DocuSign by 100.0% during the fourth quarter. Caz Investments LP now owns 2,000 shares of the company’s stock valued at $119,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Brandywine Managers LLC bought a new stake in DocuSign in the 4th quarter valued at $250,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DOCU shares. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Wells Fargo & Company upped their target price on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Royal Bank of Canada boosted their target price on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Finally, Citigroup raised their target price on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $63.40.

Check Out Our Latest Research Report on DOCU

DocuSign Stock Down 0.4 %

Shares of DocuSign stock traded down $0.25 during midday trading on Thursday, hitting $69.00. The company had a trading volume of 4,102,648 shares, compared to its average volume of 2,762,989. The stock has a market cap of $14.13 billion, a price-to-earnings ratio of 133.17, a PEG ratio of 6.37 and a beta of 0.92. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $69.53. The company has a fifty day simple moving average of $57.65 and a 200 day simple moving average of $56.68.

DocuSign (NASDAQ:DOCU – Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same period in the previous year, the company earned $0.09 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, analysts expect that DocuSign, Inc. will post 0.99 EPS for the current year.

Insider Activity

In other news, Director Daniel D. Springer sold 287,052 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the sale, the director now directly owns 923,445 shares in the company, valued at $49,662,872.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other DocuSign news, Director Daniel D. Springer sold 287,052 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the transaction, the director now directly owns 923,445 shares of the company’s stock, valued at $49,662,872.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $54.89, for a total transaction of $424,025.25. Following the sale, the chief executive officer now directly owns 109,918 shares of the company’s stock, valued at $6,033,399.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 410,502 shares of company stock valued at $21,963,248 in the last ninety days. Insiders own 1.66% of the company’s stock.

About DocuSign

(Free Report)

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.

See Also

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