iA Global Asset Management Inc. decreases the stock position in DocuSign, Inc. (NASDAQ:DOCU)

iA Global Asset Management Inc. reduced its position in DocuSign, Inc. (NASDAQ:DOCU – Free Report) by 20.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,516 shares of the company’s stock after selling 1,978 shares during the quarter. Holdings of iA Global Asset Management Inc. in DocuSign were worth $402,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV boosted its holdings in shares of DocuSign by 5,000.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after buying an additional 564 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in shares of DocuSign in the first quarter valued at approximately $37,000. ICA Group Wealth Management LLC purchased a new stake in shares of DocuSign in the fourth quarter valued at approximately $39,000. Finally, Jones Financial Companies Lllp purchased a new stake in shares of DocuSign in the fourth quarter valued at about $59,000. Hedge funds and other institutional investors own 77.64% of the company’s shares.

Changes in Analyst Ratings

Several research firms have recently commented on DOCU. Piper Sandler cut their price target on DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Bank of America cut their price target on DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Robert W. Baird cut their price target on DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Citigroup cut their price target on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Finally, Morgan Stanley cut their price target on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $59.36, according to MarketBeat.com.

Get the latest research report on DOCU

DocuSign Stock 0.3%

DOCU opened at $59.21 on Friday. DocuSign, Inc. it has a 52-week low of $38.11 and a 52-week high of $64.76. The company has a fifty day simple moving average of $54.84 and a 200 day simple moving average of $55.61. The firm has a market cap of $12.12 billion, a P/E ratio of 113.87, a P/E/G ratio of 8.34 and a beta of 0.94.

DocuSign (NASDAQ:DOCU – Get Your Free Report ) last released its quarterly earnings results on Thursday, June 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.20 by $0.09. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The business had revenue of $709.64 million during the quarter, compared to analyst estimates of $706.07 million. Sell-side analysts expect that DocuSign, Inc. to post 0.88 earnings per share for the current year.

Insider transactions at DocuSign

In other news, Director Daniel D. Springer sold 70,983 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the completion of the transaction, the director now directly owns 891,373 shares in the company, valued at $44,426,030.32. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider James P. Shaughnessy sold 1,800 shares of DocuSign stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total value of $91,764.00. Following the completion of the transaction, the insider now directly owns 35,703 shares in the company, valued at $1,820,138.94. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, Director Daniel D. Springer sold 70,983 shares of DocuSign stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the transaction, the director now owns 891,373 shares of the company’s stock, valued at $44,426,030.32. The disclosure for this sale can be found here. Insiders have sold a total of 474,693 shares of company stock worth $25,067,629 over the last ninety days. Company insiders own 1.66% of the company’s shares.

DocuSign profile

(Free report)

DocuSign, Inc provides electronic signature solutions in the United States and internationally. The company offers an electronic signature solution that allows sending and signing agreements on different devices; Contract Lifecycle Management (CLM), which automates workflows throughout the entire agreement process; Document Generation simplifies the process of generating new custom agreements; and Gen for Salesforce, which allows sales reps to automatically generate deals with a few clicks from within Salesforce.

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