Grimes & Company Inc. Has $16.78 Million Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Grimes & Company Inc. decreased its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,252 shares of the company's stock after selling 10,751 shares during the quarter. Grimes & Company Inc. owned approximately 0.13% of DocuSign worth $16,780,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of DOCU. Inspire Investing LLC bought a new stake in DocuSign during the third quarter worth about $911,000. Comerica Bank grew its position in DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company's stock worth $1,721,000 after acquiring an additional 20,110 shares during the last quarter. Retirement Systems of Alabama acquired a new stake in DocuSign during the 1st quarter valued at $8,700,000. PGGM Investments increased its holdings in DocuSign by 36.7% during the 2nd quarter. PGGM Investments now owns 49,812 shares of the company's stock valued at $2,665,000 after purchasing an additional 13,379 shares in the last quarter. Finally, Claro Advisors LLC bought a new position in DocuSign in the 3rd quarter valued at $727,000. 77.64% of the stock is currently owned by institutional investors.

DocuSign Stock Performance

NASDAQ:DOCU traded up $0.02 during mid-day trading on Thursday, hitting $70.58. The company had a trading volume of 2,271,160 shares, compared to its average volume of 2,935,094. The business's fifty day moving average is $61.35 and its two-hundred day moving average is $57.50. The firm has a market cap of $14.45 billion, a P/E ratio of 135.73, a P/E/G ratio of 7.33 and a beta of 0.92. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $73.80.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.17. The firm 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 company's revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 earnings per share. Equities analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DOCU. Royal Bank of Canada raised their target price on DocuSign from $52.00 to $57.00 and gave the company a "sector perform" rating in a research note on Friday, September 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research note on Friday, September 6th. Robert W. Baird upped their target price 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. Citigroup boosted their price objective on shares of DocuSign from $86.00 to $87.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Finally, Bank of America upped their price objective on DocuSign from $60.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $63.40.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $54.89, for a total transaction of $424,025.25. Following the completion of the sale, the chief executive officer now owns 109,918 shares of the company's stock, valued at $6,033,399.02. This 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 at this hyperlink. In related news, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $54.89, for a total transaction of $424,025.25. Following the completion of the transaction, the chief executive officer now directly owns 109,918 shares in the company, valued at approximately $6,033,399.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel D. Springer sold 70,983 shares of DocuSign stock in a transaction that occurred 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 sale, the director now directly owns 891,373 shares in the company, valued at approximately $44,426,030.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 427,554 shares of company stock worth $23,129,150. Company insiders own 1.66% of the company's stock.

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.