AustralianSuper Pty Ltd Cuts Position in DocuSign, Inc. (NASDAQ:DOCU)

by · The Markets Daily

AustralianSuper Pty Ltd trimmed its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU – Free Report) by 7.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 21,113 shares of the company’s stock after selling 1,671 shares during the period. AustralianSuper Pty Ltd’s holdings in DocuSign were worth $1,311,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in DOCU. Diversified Trust Co boosted its stake in DocuSign by 80.2% in the 1st quarter. Diversified Trust Co now owns 11,154 shares of the company’s stock worth $664,000 after purchasing an additional 4,963 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of DocuSign by 0.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 473,219 shares of the company’s stock worth $28,180,000 after buying an additional 3,038 shares in the last quarter. Norden Group LLC purchased a new stake in shares of DocuSign during the first quarter valued at approximately $467,000. Van ECK Associates Corp grew its holdings in shares of DocuSign by 30.7% during the first quarter. Van ECK Associates Corp now owns 41,129 shares of the company’s stock valued at $2,449,000 after buying an additional 9,650 shares during the last quarter. Finally, Retirement Systems of Alabama bought a new stake in shares of DocuSign during the first quarter valued at approximately $8,700,000. 77.64% of the stock is owned by institutional investors.

DocuSign Stock Performance

NASDAQ DOCU opened at $69.38 on Friday. The business’s fifty day moving average is $62.88 and its 200 day moving average is $57.94. DocuSign, Inc. has a fifty-two week low of $38.20 and a fifty-two week high of $73.80. The company has a market capitalization of $14.08 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 7.30 and a beta of 0.92.

DocuSign (NASDAQ:DOCU – Get Free Report) last posted 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. The firm had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. On average, sell-side analysts forecast that DocuSign, Inc. will post 1.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on DOCU shares. Bank of America increased their target price on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Thursday, September 5th. Wells Fargo & Company lifted their price objective on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Royal Bank of Canada upped their target price on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Finally, Robert W. Baird lifted their price target on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, DocuSign presently has an average rating of “Hold” and an average price target of $63.40.

Check Out Our Latest Report on DocuSign

Insider Activity

In other DocuSign news, Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the sale, the director now owns 7,202 shares in the company, valued at approximately $407,345.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other DocuSign news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the transaction, the director now directly owns 7,202 shares in the company, valued at $407,345.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel D. Springer sold 70,983 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the sale, the director now directly owns 891,373 shares of the company’s stock, valued at approximately $44,426,030.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,777 shares of company stock worth $7,267,469 in the last three months. Company 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.

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