Grimes & Company Inc. Sells 10,751 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Grimes & Company Inc. reduced its stake in DocuSign, Inc. (NASDAQ:DOCU) by 3.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 270,252 shares of the company’s stock after selling 10,751 shares during the quarter. Grimes & Company Inc.’s holdings in DocuSign were worth $16,780,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in DOCU. Resonant Capital Advisors LLC raised its position in DocuSign by 0.9% during the third quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock valued at $1,088,000 after purchasing an additional 157 shares in the last quarter. V Square Quantitative Management LLC raised its position in DocuSign by 6.0% during the third quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock valued at $187,000 after purchasing an additional 172 shares in the last quarter. Dakota Wealth Management raised its position in DocuSign by 0.8% during the second quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock valued at $1,232,000 after purchasing an additional 181 shares in the last quarter. Sovereign Financial Group Inc. raised its position in DocuSign by 4.3% during the third quarter. Sovereign Financial Group Inc. now owns 4,487 shares of the company’s stock valued at $279,000 after purchasing an additional 184 shares in the last quarter. Finally, DMC Group LLC raised its position in DocuSign by 4.6% during the third quarter. DMC Group LLC now owns 4,561 shares of the company’s stock valued at $283,000 after purchasing an additional 201 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

DocuSign Price Performance

Shares of DocuSign stock traded up $0.61 during trading on Thursday, hitting $71.17. The company’s stock had a trading volume of 130,468 shares, compared to its average volume of 2,924,413. The stock has a market cap of $14.57 billion, a price-to-earnings ratio of 135.69, a price-to-earnings-growth ratio of 7.33 and a beta of 0.92. The stock has a 50-day moving average price of $61.35 and a two-hundred day moving average price of $57.50. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $73.80.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The business had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. 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.

Insider Buying and Selling at DocuSign

In other news, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $54.89, for a total transaction of $424,025.25. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $54.89, for a total transaction of $424,025.25. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total transaction of $657,177.60. Following the transaction, the chief financial officer now directly owns 78,265 shares in the company, valued at $5,384,632. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 427,554 shares of company stock valued at $23,129,150. 1.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on DOCU shares. Royal Bank of Canada upped their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Wells Fargo & Company upped their price target on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Bank of America upped their price target on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a report on Thursday, September 5th. Two research 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, DocuSign has a consensus rating of “Hold” and a consensus price target of $63.40.

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.