Zurcher Kantonalbank Zurich Cantonalbank Sells 172,002 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 56.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,196 shares of the company’s stock after selling 172,002 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of DocuSign worth $8,146,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of DOCU. Inspire Investing LLC acquired a new stake in DocuSign during the 3rd quarter worth approximately $911,000. Charles Schwab Investment Management Inc. increased its position in shares of DocuSign by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after acquiring an additional 16,014 shares in the last quarter. Comerica Bank increased its position in shares of DocuSign by 228.8% during the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after acquiring an additional 20,110 shares in the last quarter. International Assets Investment Management LLC lifted its position in DocuSign by 5,660.8% in the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after acquiring an additional 431,295 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in DocuSign by 7.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock worth $80,501,000 after purchasing an additional 85,987 shares during the period. Institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $79.69 on Monday. DocuSign, Inc. has a 52-week low of $42.76 and a 52-week high of $86.75. The company has a market capitalization of $16.17 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 8.25 and a beta of 0.90. The company has a 50-day simple moving average of $71.99 and a 200 day simple moving average of $61.08.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same period in the previous year, the firm earned $0.09 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts forecast that DocuSign, Inc. will post 1.03 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the sale, the director now directly owns 7,202 shares in the company, valued at $407,345.12. The trade was a 6.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the transaction, the chief executive officer now owns 102,193 shares in the company, valued at $6,038,584.37. The trade was a 7.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,558 shares of company stock valued at $4,272,768. Company insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

DOCU has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Citigroup lifted their target price on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada raised their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, September 6th. JMP Securities lifted their price objective 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. Finally, Bank of America increased their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.