Oppenheimer & Co. Inc. Trims Position in DocuSign, Inc. (NASDAQ:DOCU)

Oppenheimer & Co. Inc. lowered its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 15.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,103 shares of the company’s stock after selling 4,503 shares during the period. Oppenheimer & Co. Inc.’s holdings in DocuSign were worth $1,497,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in DOCU. Massmutual Trust Co. FSB ADV boosted its stake in DocuSign by 5,000.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after buying an additional 500 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after acquiring an additional 564 shares during the period. Reston Wealth Management LLC acquired a new stake in shares of DocuSign in the third quarter worth approximately $47,000. nVerses Capital LLC purchased a new stake in DocuSign in the second quarter valued at approximately $48,000. Finally, Quarry LP acquired a new position in DocuSign during the second quarter worth approximately $53,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Stock Down 1.6 %

DOCU stock opened at $79.11 on Monday. The stock’s 50 day moving average is $67.05 and its two-hundred day moving average is $59.50. DocuSign, Inc. has a 52-week low of $42.12 and a 52-week high of $83.68. The company has a market capitalization of $16.06 billion, a PE ratio of 16.69, a P/E/G ratio of 8.37 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 34.56% and a return on equity of 16.18%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. As a group, sell-side analysts anticipate that DocuSign, Inc. will post 1.01 EPS for the current year.

Analysts Set New Price Targets

DOCU has been the topic of a number of research analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a report on Thursday, September 5th. Bank of America boosted their price target on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Robert W. Baird raised their price objective on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada boosted their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company raised their price target on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $63.40.

Insider Activity

In other DocuSign news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now owns 7,202 shares in the company, valued at $407,345.12. The trade was a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction on Tuesday, September 3rd. The stock was 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 directly owns 102,193 shares in the company, valued at $6,038,584.37. This represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,558 shares of company stock worth $4,272,768. 1.66% of the stock is currently owned by corporate 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.