Centaurus Financial Inc. Reduces Position in DocuSign, Inc. (NASDAQ:DOCU)

Centaurus Financial Inc. decreased its position in DocuSign, Inc. (NASDAQ:DOCU) by 9.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,440 shares of the company’s stock after selling 555 shares during the period. Centaurus Financial Inc.’s holdings in DocuSign were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DOCU. J.W. Cole Advisors Inc. increased its holdings in shares of DocuSign by 2.0% in the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock valued at $493,000 after purchasing an additional 155 shares during the period. Resonant Capital Advisors LLC raised its position in DocuSign by 0.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after buying an additional 157 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in DocuSign by 6.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock valued at $187,000 after acquiring an additional 172 shares during the period. Dakota Wealth Management boosted its holdings in shares of DocuSign by 0.8% in the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock valued at $1,232,000 after acquiring an additional 181 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of DocuSign by 5.8% in the third quarter. Covestor Ltd now owns 3,306 shares of the company’s stock worth $205,000 after acquiring an additional 182 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $85.30 on Wednesday. The firm has a market capitalization of $17.31 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 8.79 and a beta of 0.90. The business’s 50 day moving average price is $70.63 and its 200-day moving average price is $60.66. DocuSign, Inc. has a 1 year low of $42.13 and a 1 year high of $86.75.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.17. The business had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share. On average, sell-side analysts expect that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the completion of the sale, the chief executive officer now directly owns 102,193 shares in the company, valued at $6,038,584.37. This represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total transaction of $820,752.54. Following the transaction, the insider now owns 70,748 shares in the company, valued at $3,923,684.08. The trade was a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,558 shares of company stock worth $4,272,768. Insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price 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. Robert W. Baird upped their target price on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Bank of America lifted their price target on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Finally, JMP Securities lifted their target price on shares of DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, DocuSign has a consensus rating of “Hold” and an average target price of $65.80.

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.