DocuSign, Inc. (NASDAQ:DOCU) Holdings Cut by Silvant Capital Management LLC

Silvant Capital Management LLC lowered its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 13.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,566 shares of the company’s stock after selling 723 shares during the period. Silvant Capital Management LLC’s holdings in DocuSign were worth $271,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Grimes & Company Inc. lifted its holdings in DocuSign by 1.6% in the fourth quarter. Grimes & Company Inc. now owns 291,500 shares of the company’s stock worth $17,330,000 after acquiring an additional 4,669 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of DocuSign by 0.9% during the fourth quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock valued at $1,087,000 after buying an additional 163 shares during the last quarter. Allworth Financial LP raised its holdings in shares of DocuSign by 283.5% during the fourth quarter. Allworth Financial LP now owns 1,833 shares of the company’s stock valued at $109,000 after buying an additional 1,355 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of DocuSign by 4,438.8% during the fourth quarter. International Assets Investment Management LLC now owns 521,912 shares of the company’s stock valued at $31,028,000 after buying an additional 510,413 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of DocuSign by 1.2% during the fourth quarter. Arizona State Retirement System now owns 55,848 shares of the company’s stock valued at $3,320,000 after buying an additional 638 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

DocuSign stock traded up $0.67 during midday trading on Friday, reaching $59.47. The stock had a trading volume of 1,347,308 shares, compared to its average volume of 3,240,535. The firm’s fifty day simple moving average is $55.48 and its two-hundred day simple moving average is $51.05. DocuSign, Inc. has a twelve month low of $38.11 and a twelve month high of $64.76. The firm has a market cap of $12.22 billion, a price-to-earnings ratio of 165.20, a PEG ratio of 5.20 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. The firm had revenue of $712.39 million during the quarter, compared to analyst estimates of $698.05 million. As a group, sell-side analysts predict that DocuSign, Inc. will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Stephen Shute sold 15,109 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total value of $861,515.18. Following the completion of the transaction, the insider now owns 8,959 shares of the company’s stock, valued at approximately $510,842.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other DocuSign news, CEO Allan C. Thygesen sold 7,680 shares of DocuSign stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $61.27, for a total transaction of $470,553.60. Following the completion of the sale, the chief executive officer now owns 111,767 shares of the company’s stock, valued at approximately $6,847,964.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Shute sold 15,109 shares of DocuSign stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total transaction of $861,515.18. Following the sale, the insider now directly owns 8,959 shares of the company’s stock, valued at approximately $510,842.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,871 shares of company stock valued at $2,276,199. Company insiders own 17.80% of the company’s stock.

Wall Street Analyst Weigh In

DOCU has been the topic of a number of recent analyst reports. TheStreet raised DocuSign from a “d+” rating to a “c-” rating in a report on Tuesday, December 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $50.00 price objective on shares of DocuSign in a research note on Friday, January 12th. Morgan Stanley upgraded shares of DocuSign from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $49.00 to $64.00 in a research note on Tuesday, January 16th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research note on Monday, January 22nd. Finally, Wells Fargo & Company lowered their price objective on shares of DocuSign from $55.00 to $45.00 and set an “underweight” rating on the stock in a research note on Monday, February 5th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.33.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.