Lyell Wealth Management LP Reduces Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Lyell Wealth Management LP reduced its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,801 shares of the company’s stock after selling 2,097 shares during the quarter. Lyell Wealth Management LP’s holdings in DocuSign were worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of DOCU. Assenagon Asset Management S.A. raised its holdings in shares of DocuSign by 321.3% in the third quarter. Assenagon Asset Management S.A. now owns 214,877 shares of the company’s stock worth $9,025,000 after buying an additional 163,875 shares during the period. Executive Wealth Management LLC acquired a new position in shares of DocuSign in the third quarter valued at about $1,000,000. SG Americas Securities LLC increased its holdings in DocuSign by 93.1% in the 4th quarter. SG Americas Securities LLC now owns 78,423 shares of the company’s stock worth $4,662,000 after buying an additional 37,801 shares during the period. Charles Schwab Investment Management Inc. lifted its position in DocuSign by 77.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,215,650 shares of the company’s stock valued at $51,057,000 after purchasing an additional 531,682 shares during the period. Finally, Grimes & Company Inc. purchased a new position in DocuSign during the third quarter valued at approximately $12,047,000. 77.64% of the stock is currently owned by institutional investors.

DocuSign Stock Performance

NASDAQ DOCU traded down $0.06 during mid-day trading on Thursday, reaching $57.23. 604,856 shares of the stock were exchanged, compared to its average volume of 3,281,858. The stock has a market capitalization of $11.76 billion, a PE ratio of 157.23, a PEG ratio of 4.96 and a beta of 0.89. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76. The business’s fifty day simple moving average is $56.23 and its 200 day simple moving average is $52.51.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The business had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. On average, analysts anticipate that DocuSign, Inc. will post 0.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wells Fargo & Company cut their price objective on DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $59.00 target price on shares of DocuSign in a report on Friday, April 12th. Morgan Stanley upgraded DocuSign from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $49.00 to $64.00 in a report on Tuesday, January 16th. UBS Group upgraded shares of DocuSign from a “sell” rating to a “neutral” rating and lifted their target price for the company from $48.00 to $62.00 in a report on Friday, April 12th. Finally, JMP Securities reissued a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research report on Friday, April 12th. Two investment 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $60.25.

Insider Transactions at DocuSign

In other news, CEO Allan C. Thygesen sold 7,680 shares of the business’s 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 directly owns 111,767 shares of the company’s stock, valued at approximately $6,847,964.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Allan C. Thygesen sold 7,680 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $61.27, for a total transaction of $470,553.60. Following the sale, the chief executive officer now directly owns 111,767 shares in the company, valued at approximately $6,847,964.09. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Teresa Briggs sold 499 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total value of $26,442.01. Following the completion of the transaction, the director now owns 6,169 shares of the company’s stock, valued at approximately $326,895.31. The disclosure for this sale can be found here. Insiders have sold a total of 54,871 shares of company stock worth $3,176,199 in the last three months. Company insiders own 17.80% of the company’s stock.

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.