Zurcher Kantonalbank Zurich Cantonalbank Has $8.15 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in DocuSign, Inc. (NASDAQ:DOCU) by 56.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,196 shares of the company’s stock after selling 172,002 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in DocuSign were worth $8,146,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of DOCU. American Century Companies Inc. raised its position in shares of DocuSign by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock valued at $219,318,000 after buying an additional 75,026 shares in the last quarter. Renaissance Technologies LLC raised its position in DocuSign by 18.3% during the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after purchasing an additional 576,414 shares in the last quarter. Pacer Advisors Inc. lifted its stake in DocuSign by 77.9% during the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after purchasing an additional 1,541,816 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of DocuSign by 4.1% in the 2nd quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company’s stock valued at $156,265,000 after purchasing an additional 115,616 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of DocuSign by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock valued at $141,398,000 after purchasing an additional 112,919 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DOCU. Bank of America upped their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, September 6th. JMP Securities raised their price target on shares of DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd. Royal Bank of Canada upped their price objective on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Finally, Robert W. Baird increased their price objective on shares of DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $65.80.

DocuSign Stock Down 0.9 %

Shares of DocuSign stock opened at $79.69 on Monday. The stock has a market cap of $16.17 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 8.25 and a beta of 0.90. DocuSign, Inc. has a twelve month low of $42.76 and a twelve month high of $86.75. The company’s fifty day moving average is $71.99 and its 200 day moving average is $61.08.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same quarter in the previous year, the company posted $0.09 EPS. The business’s revenue was up 7.0% on a year-over-year basis. As a group, equities analysts anticipate that DocuSign, Inc. will post 1.03 earnings per share for the current fiscal year.

Insider Buying and Selling at DocuSign

In related news, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total transaction of $820,752.54. Following the sale, the insider now owns 70,748 shares in the company, valued at $3,923,684.08. This represents a 17.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the sale, the chief executive officer now owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. The trade was a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is currently owned by company insiders.

DocuSign 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.