Point72 Hong Kong Ltd Sells 14,578 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Point72 Hong Kong Ltd cut its position in DocuSign, Inc. (NASDAQ:DOCU) by 46.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,996 shares of the company’s stock after selling 14,578 shares during the quarter. Point72 Hong Kong Ltd’s holdings in DocuSign were worth $1,055,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its stake in 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 acquiring an additional 500 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of DocuSign in the 3rd quarter valued at about $33,000. Mather Group LLC. lifted its stake in DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares during the last quarter. Reston Wealth Management LLC bought a new position in DocuSign during the third quarter worth about $47,000. Finally, nVerses Capital LLC acquired a new position in DocuSign during the second quarter worth approximately $48,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 9,552 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $68.80, for a total transaction of $657,177.60. Following the sale, the chief financial officer now owns 78,265 shares in the company, valued at approximately $5,384,632. This trade represents a 10.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the transaction, the chief executive officer now owns 102,193 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders have sold 69,558 shares of company stock worth $4,272,768. Company insiders own 1.66% of the company’s stock.

DocuSign Trading Down 0.9 %

Shares of DOCU opened at $79.69 on Monday. DocuSign, Inc. has a 12 month low of $42.76 and a 12 month high of $86.75. The firm’s 50 day moving average is $71.99 and its 200-day moving average is $61.08. The stock has a market capitalization of $16.17 billion, a PE ratio of 16.81, a P/E/G ratio of 8.25 and a beta of 0.90.

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

Wall Street Analyst Weigh In

DOCU has been the subject of several research analyst reports. Royal Bank of Canada lifted their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, September 6th. Robert W. Baird lifted their price objective on shares of DocuSign from $55.00 to $59.00 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 research report on Friday, September 6th. JMP Securities lifted their target price on shares of DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Finally, Bank of America increased their price target on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Two equities research 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, DocuSign presently has a consensus rating of “Hold” and an average price target of $65.80.

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.