DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by C M Bidwell & Associates Ltd.

C M Bidwell & Associates Ltd. decreased its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 32.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 840 shares of the company’s stock after selling 410 shares during the quarter. C M Bidwell & Associates Ltd.’s holdings in DocuSign were worth $76,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp raised its stake in shares of DocuSign by 2.3% during the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after buying an additional 120,743 shares during the period. American Century Companies Inc. raised its position in DocuSign by 18.5% during the fourth quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock worth $478,072,000 after acquiring an additional 831,611 shares during the period. Geode Capital Management LLC lifted its holdings in DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after purchasing an additional 53,554 shares in the last quarter. Norges Bank purchased a new stake in shares of DocuSign during the fourth quarter worth about $223,196,000. Finally, Thrivent Financial for Lutherans raised its position in shares of DocuSign by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 2,318,137 shares of the company’s stock worth $208,494,000 after purchasing an additional 40,825 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

Shares of DOCU stock opened at $83.18 on Monday. The firm has a market cap of $16.84 billion, a P/E ratio of 17.15, a P/E/G ratio of 6.94 and a beta of 1.02. The firm’s 50 day moving average price is $87.18 and its 200-day moving average price is $81.54. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $0.76 earnings per share. As a group, research analysts predict that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the transaction, the chief executive officer now owns 156,050 shares in the company, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the sale, the insider now owns 76,842 shares in the company, valued at approximately $6,392,485.98. This trade represents a 16.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,851 shares of company stock worth $8,579,369 over the last three months. Company insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several research reports. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Wedbush reissued a “neutral” rating and issued a $100.00 price objective on shares of DocuSign in a research note on Friday, March 14th. Bank of America lowered their target price on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Wells Fargo & Company raised their price target on shares of DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research note on Friday, March 14th. Finally, Morgan Stanley upped their price objective on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $95.00.

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.