SG Americas Securities LLC Reduces Position in DocuSign, Inc. (NASDAQ:DOCU)

SG Americas Securities LLC reduced its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 47.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,062 shares of the company's stock after selling 8,249 shares during the period. SG Americas Securities LLC's holdings in DocuSign were worth $563,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in DOCU. Comerica Bank boosted its stake in shares of DocuSign by 228.8% in the 1st quarter. Comerica Bank now owns 28,901 shares of the company's stock valued at $1,721,000 after purchasing an additional 20,110 shares in the last quarter. Vanguard Group Inc. lifted its stake in DocuSign by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company's stock worth $1,272,214,000 after purchasing an additional 417,352 shares during the last quarter. Retirement Systems of Alabama purchased a new stake in DocuSign during the first quarter valued at about $8,700,000. PGGM Investments grew its stake in shares of DocuSign by 36.7% during the second quarter. PGGM Investments now owns 49,812 shares of the company's stock valued at $2,665,000 after buying an additional 13,379 shares during the last quarter. Finally, Advisory Services Network LLC increased its holdings in shares of DocuSign by 77.8% in the first quarter. Advisory Services Network LLC now owns 56,494 shares of the company's stock worth $3,364,000 after buying an additional 24,718 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JMP Securities restated a "market outperform" rating and set a $84.00 target price on shares of DocuSign in a report on Thursday, September 5th. Bank of America increased their price objective on DocuSign from $60.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, September 6th. Wells Fargo & Company upped 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. Citigroup increased their price target on shares of DocuSign from $86.00 to $87.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada upped their price objective 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, DocuSign has a consensus rating of "Hold" and an average target price of $63.40.

DocuSign Stock Performance

DocuSign stock opened at $70.04 on Wednesday. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $70.19. The stock has a market cap of $14.34 billion, a price-to-earnings ratio of 134.69, a PEG ratio of 7.33 and a beta of 0.92. The stock's 50 day simple moving average is $59.07 and its two-hundred day simple moving average is $56.96.

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, topping the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million for 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 firm's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 earnings per share. On average, analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Daniel D. Springer sold 287,052 shares of DocuSign stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the completion of the transaction, the director now directly owns 923,445 shares in the company, valued at approximately $49,662,872.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Daniel D. Springer sold 287,052 shares of the firm's stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the completion of the transaction, the director now directly owns 923,445 shares in the company, valued at $49,662,872.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel D. Springer sold 70,983 shares of the company's stock in a transaction dated Monday, August 5th. The stock was 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 owns 891,373 shares in the company, valued at approximately $44,426,030.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 418,002 shares of company stock valued at $22,471,973 over the last quarter. Corporate insiders own 1.66% of the company's stock.

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.