Quest Partners LLC Lowers Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Quest Partners LLC reduced its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 80.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,067 shares of the company’s stock after selling 8,488 shares during the period. Quest Partners LLC’s holdings in DocuSign were worth $128,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DOCU. Inspire Investing LLC purchased a new stake in shares of DocuSign during the 3rd quarter valued at $911,000. Comerica Bank raised its position in DocuSign by 228.8% during the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after purchasing an additional 20,110 shares in the last quarter. International Assets Investment Management LLC raised its position in DocuSign by 5,660.8% during the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after purchasing an additional 431,295 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of DocuSign by 7.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock worth $80,501,000 after purchasing an additional 85,987 shares in the last quarter. Finally, Carrera Capital Advisors purchased a new position in shares of DocuSign in the 3rd quarter worth about $666,000. Institutional investors own 77.64% of the company’s stock.

Insider Activity

In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the completion of the sale, the chief executive officer now owns 102,193 shares of the company’s stock, valued at $6,038,584.37. This trade represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Blake Jeffrey Grayson sold 14,036 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total value of $778,576.92. Following the sale, the chief financial officer now directly owns 87,611 shares of the company’s stock, valued at $4,859,782.17. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,558 shares of company stock worth $4,272,768. 1.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on DOCU shares. Citigroup upped their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Bank of America increased their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company raised their price objective on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Robert W. Baird boosted their target price on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, JMP Securities increased their target price on DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus target price of $65.80.

DocuSign Stock Performance

NASDAQ DOCU opened at $80.38 on Friday. The business’s fifty day moving average is $71.56 and its 200 day moving average is $60.93. DocuSign, Inc. has a fifty-two week low of $42.13 and a fifty-two week high of $86.75. The company has a market capitalization of $16.31 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 9.05 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $727.20 million. During the same period last year, the firm earned $0.09 EPS. The company’s revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts forecast that DocuSign, Inc. will post 1.01 EPS for the current year.

DocuSign Company Profile

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.