Docusign Inc. $DOCU Shares Sold by Gagnon Securities LLC

Gagnon Securities LLC decreased its position in shares of Docusign Inc. (NASDAQ:DOCU) by 41.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,159 shares of the company’s stock after selling 8,747 shares during the period. Gagnon Securities LLC’s holdings in Docusign were worth $816,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. John Boyer Inc. acquired a new position in shares of Docusign in the third quarter valued at about $26,000. V Square Quantitative Management LLC bought a new position in Docusign in the third quarter valued at approximately $27,000. WealthCollab LLC increased its stake in shares of Docusign by 372.4% in the 1st quarter. WealthCollab LLC now owns 855 shares of the company’s stock valued at $41,000 after purchasing an additional 674 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its position in Docusign by 78.5% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 607 shares of the company’s stock valued at $41,000 after acquiring an additional 267 shares during the last quarter. Finally, Virtus Advisers LLC acquired a new stake in shares of Docusign in the 2nd quarter valued at approximately $47,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity at Docusign

In other Docusign news, Director Peter Solvik sold 46,000 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $65.24, for a total value of $3,001,040.00. Following the completion of the sale, the director directly owned 49,558 shares in the company, valued at approximately $3,233,163.92. This trade represents a 48.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Blake Grayson sold 30,000 shares of Docusign stock in a transaction on Friday, September 4th. The shares were sold at an average price of $70.00, for a total transaction of $2,100,000.00. Following the completion of the sale, the chief financial officer directly owned 96,429 shares of the company’s stock, valued at approximately $6,750,030. This trade represents a 23.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 154,168 shares of company stock worth $10,491,896 over the last ninety days. 0.59% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DOCU shares. Citizens Jmp restated a “market outperform” rating and set a $86.00 price objective on shares of Docusign in a research report on Friday, September 4th. Yorkville Ives initiated coverage on Docusign in a research note on Monday, October 5th. They issued an “in-line” rating and a $72.00 price objective on the stock. Citigroup upped their target price on Docusign from $54.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, September 4th. UBS Group increased their target price on shares of Docusign from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. Finally, Morgan Stanley increased their target price on shares of Docusign from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $67.62.

Docusign Price Performance

NASDAQ DOCU opened at $80.15 on Thursday. The stock has a market capitalization of $14.98 billion, a P/E ratio of 48.87, a P/E/G ratio of 2.86 and a beta of 0.80. The business has a 50 day simple moving average of $73.42 and a 200 day simple moving average of $55.56. Docusign Inc. has a one year low of $40.16 and a one year high of $85.90.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.07. The firm had revenue of $875.75 million for the quarter, compared to analyst estimates of $867.22 million. Docusign had a return on equity of 18.29% and a net margin of 9.82%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 earnings per share. Equities analysts expect that Docusign Inc. will post 2.15 earnings per share for the current year.

Docusign Company Profile

DocuSign, Inc. provides software for preparing, signing, managing and automating agreements. Its platform helps businesses and individuals complete agreements digitally, reducing reliance on paper-based processes. The company’s offerings include DocuSign eSignature, which enables users to sign and request signatures electronically, as well as tools for contract lifecycle management and agreement workflows. Its Intelligent Agreement Management products use artificial intelligence to help organizations analyze and manage agreement-related information and processes.