Intech Investment Management LLC Sells 153,560 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Intech Investment Management LLC trimmed its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 58.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 111,006 shares of the company's stock after selling 153,560 shares during the quarter. Intech Investment Management LLC owned about 0.05% of DocuSign worth $6,892,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. grew its holdings in shares of DocuSign by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 4,099,400 shares of the company's stock worth $219,318,000 after purchasing an additional 75,026 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company's stock worth $199,518,000 after acquiring an additional 576,414 shares during the period. Pacer Advisors Inc. boosted its position in shares of DocuSign by 77.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company's stock worth $188,318,000 after acquiring an additional 1,541,816 shares in the last quarter. Jericho Capital Asset Management L.P. increased its stake in DocuSign by 316.6% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company's stock valued at $203,536,000 after acquiring an additional 2,597,489 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in DocuSign by 4.1% during the second quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company's stock valued at $156,265,000 after purchasing an additional 115,616 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Insider Transactions at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the sale, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. This trade represents a 6.90 % 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, CEO Allan C. Thygesen sold 7,725 shares of the company's stock in a transaction dated 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 in the company, valued at $6,038,584.37. This represents a 7.03 % decrease in their position. 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. Company insiders own 1.66% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup lifted their price target on DocuSign from $86.00 to $87.00 and gave the company a "buy" rating in a research note on Friday, September 6th. JMP Securities increased 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. Royal Bank of Canada raised their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a "sector perform" rating in a research note on Friday, September 6th. Bank of America upped their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. Finally, Robert W. Baird boosted their target price on shares of DocuSign from $55.00 to $59.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $65.80.

DocuSign Price Performance

Shares of DocuSign stock traded up $2.88 during trading on Friday, hitting $83.03. The company's stock had a trading volume of 2,279,544 shares, compared to its average volume of 2,857,887. The stock has a market cap of $16.85 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 8.41 and a beta of 0.90. DocuSign, Inc. has a 52 week low of $42.13 and a 52 week high of $83.68. The stock has a 50-day moving average price of $68.94 and a two-hundred day moving average price of $60.07.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analysts' expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. On average, equities analysts predict that DocuSign, Inc. will post 1.01 EPS for the current fiscal year.

About DocuSign

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.