Docusign Inc. $DOCU Shares Sold by Andrew Hill Investment Advisors Inc.

Key Points

• Andrew Hill Investment Advisors cut its Docusign stake by 50.1% in the third quarter, selling 20,698 shares and retaining 20,639 shares valued at approximately $1.39 million.
• Analysts remain broadly neutral on Docusign, with an average “Hold” rating and a consensus price target of $67.62. Three analysts rate the stock a Buy, 15 a Hold and one a Sell.
• Docusign reported quarterly results above expectations, with EPS of $1.16 versus a $1.09 estimate and revenue of $875.75 million. The stock opened at $85.27, near its 52-week high of $85.39, while insiders sold 165,868 shares worth about $11.1 million during the latest quarter.

Andrew Hill Investment Advisors Inc. lowered its stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 50.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 20,639 shares of the company's stock after selling 20,698 shares during the period. Docusign makes up approximately 1.1% of Andrew Hill Investment Advisors Inc.'s portfolio, making the stock its 28th biggest holding. Andrew Hill Investment Advisors Inc.'s holdings in Docusign were worth $1,386,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of Docusign by 23.3% during the 1st quarter. Bank of America Corp DE now owns 1,193,163 shares of the company's stock valued at $56,568,000 after acquiring an additional 225,801 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Docusign by 247.5% in the second quarter. Assenagon Asset Management S.A. now owns 349,038 shares of the company's stock worth $15,504,000 after acquiring an additional 248,597 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Docusign in the second quarter worth approximately $691,000. OP Asset Management Ltd purchased a new position in shares of Docusign in the first quarter worth about $3,931,000. Finally, Two Sigma Securities LLC bought a new stake in shares of Docusign in the 2nd quarter valued at about $1,376,000. Hedge funds and other institutional investors own 77.64% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of Docusign from $52.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, September 4th. Robert W. Baird raised their target price on shares of Docusign from $55.00 to $72.00 and gave the stock a "neutral" rating in a research report on Friday, September 4th. Needham & Company LLC reissued a "hold" rating on shares of Docusign in a research note on Friday, September 4th. Wells Fargo & Company lifted their price objective on Docusign from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Friday, September 4th. Finally, Weiss Ratings raised Docusign from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Three analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $67.62.

Insider Buying and Selling at Docusign

In other Docusign news, insider Robert Chatwani sold 14,676 shares of Docusign stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $69.41, for a total value of $1,018,661.16. Following the completion of the transaction, the insider owned 75,928 shares of the company's stock, valued at approximately $5,270,162.48. The trade was a 16.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the firm's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $69.29, for a total transaction of $1,818,862.50. Following the completion of the transaction, the chief executive officer directly owned 166,801 shares in the company, valued at $11,557,641.29. This represents a 13.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 165,868 shares of company stock valued at $11,121,890. 0.59% of the stock is currently owned by corporate insiders.

Docusign Trading Up 1.0%

DOCU opened at $85.27 on Friday. The firm's 50 day simple moving average is $68.76 and its two-hundred day simple moving average is $55.89. The company has a market capitalization of $15.94 billion, a PE ratio of 50.24, a PEG ratio of 3.12 and a beta of 0.86. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $85.39.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.09 by $0.07. The firm had revenue of $875.75 million during the quarter, compared to analyst estimates of $867.22 million. Docusign had a return on equity of 18.29% and a net margin of 9.82%. Docusign's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 EPS. Equities analysts forecast that Docusign Inc. will post 2.14 earnings per share for the current fiscal year.

Docusign Company Profile

DocuSign, Inc is a software company that provides digital agreement and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping customers replace paper-based contracting processes with digital workflows.

The company's offerings include eSignature, contract lifecycle management, identity verification, notarization and agreement analytics tools. These products are designed to support agreement creation, negotiation, execution and post-signature management across functions such as sales, human resources, procurement, legal and finance.

Founded in 2003, DocuSign serves businesses, government organizations and individual users in markets around the world.

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