Assenagon Asset Management S.A. Lowers Stake in DocuSign, Inc. (NASDAQ:DOCU)

Assenagon Asset Management S.A. reduced its position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 60.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 245,215 shares of the company's stock after selling 372,903 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.12% of DocuSign worth $15,225,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DOCU. Massmutual Trust Co. FSB ADV raised its holdings in DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company's stock valued at $27,000 after buying an additional 500 shares during the last quarter. Mather Group LLC. raised its holdings in DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company's stock valued at $31,000 after buying an additional 564 shares during the last quarter. Register Financial Advisors LLC bought a new stake in DocuSign during the 1st quarter valued at $37,000. nVerses Capital LLC bought a new position in DocuSign in the 2nd quarter worth $48,000. Finally, Quarry LP purchased a new stake in shares of DocuSign in the 2nd quarter worth about $53,000. 77.64% of the stock is currently owned by institutional investors.

DocuSign Trading Down 2.3 %

NASDAQ:DOCU traded down $1.59 on Friday, reaching $68.99. 2,564,023 shares of the stock traded hands, compared to its average volume of 2,933,302. The company has a market capitalization of $14.12 billion, a price-to-earnings ratio of 132.67, a PEG ratio of 7.33 and a beta of 0.92. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $73.80. The company's fifty day simple moving average is $61.87 and its 200 day simple moving average is $57.64.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $84.00 target price on shares of DocuSign in a research report on Thursday, September 5th. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a research report on Friday, September 6th. Wells Fargo & Company lifted their price target on shares of DocuSign from $48.00 to $50.00 and gave the company an "underweight" rating in a research report on Friday, September 6th. Bank of America lifted their price target on shares of DocuSign from $60.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, September 6th. Finally, Robert W. Baird lifted their price target on shares of DocuSign from $55.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $63.40.

Insider Transactions at DocuSign

In other news, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $54.89, for a total value of $424,025.25. Following the completion of the sale, the chief executive officer now directly owns 109,918 shares in the company, valued at $6,033,399.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Blake Jeffrey Grayson sold 9,552 shares of the business's 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 completion of the sale, the chief financial officer now directly owns 78,265 shares in the company, valued at approximately $5,384,632. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 7,725 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now owns 109,918 shares of the company's stock, valued at $6,033,399.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 427,554 shares of company stock worth $23,129,150 over the last three months. 1.66% of the stock is currently owned by company insiders.

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.