DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC cut its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 16.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,035 shares of the company’s stock after selling 209 shares during the period. EverSource Wealth Advisors LLC’s holdings in DocuSign were worth $93,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in DOCU. Toronto Dominion Bank lifted its position in shares of DocuSign by 30.3% in the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after buying an additional 6,081 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of DocuSign by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after acquiring an additional 16,014 shares during the period. Quantinno Capital Management LP grew its position in DocuSign by 39.5% in the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after purchasing an additional 57,104 shares during the last quarter. Rhumbline Advisers increased its stake in shares of DocuSign by 118.8% in the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after purchasing an additional 330,136 shares during the period. Finally, KBC Group NV raised its stake in DocuSign by 32.7% during the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after acquiring an additional 378,233 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Buying and Selling at DocuSign

In related news, Director Peter Solvik sold 10,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the completion of the sale, the director now directly owns 150,253 shares in the company, valued at approximately $13,712,088.78. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the transaction, the chief executive officer now owns 156,050 shares in the company, valued at $14,050,742. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,034 shares of company stock valued at $5,932,352 in the last 90 days. 1.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley raised their price target on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Citigroup boosted their price target on shares of DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, March 14th. Bank of America dropped their target price on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Finally, William Blair upgraded DocuSign from a “market perform” rating to an “outperform” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $95.00.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $85.01 on Wednesday. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The company has a market cap of $17.17 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The firm has a 50 day simple moving average of $87.75 and a 200 day simple moving average of $79.87.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share. On average, equities analysts predict that DocuSign, Inc. will post 1.17 earnings per share 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.