Docusign Inc. $DOCU Shares Sold by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers cut its Docusign position by 31.8% in the first quarter, selling 17,289 shares and retaining 37,108 shares valued at approximately $1.76 million. Institutional investors and hedge funds collectively own 77.64% of DOCU.
• Docusign exceeded quarterly expectations, reporting $1.09 in earnings per share versus the $0.99 consensus estimate and revenue of $830.24 million, up 8.7% year over year.
• Analysts maintain a consensus “Hold” rating, with a $60.27 average price target. DOCU recently opened at $59.64, while insiders sold 76,695 shares worth about $3.48 million during the latest quarter.

Cetera Investment Advisers decreased its position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 31.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 37,108 shares of the company's stock after selling 17,289 shares during the period. Cetera Investment Advisers' holdings in Docusign were worth $1,759,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of DOCU. Modus Advisors LLC acquired a new position in Docusign in the 4th quarter valued at $27,000. Torren Management LLC acquired a new stake in shares of Docusign during the fourth quarter worth $28,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Docusign by 309.5% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company's stock valued at $38,000 after purchasing an additional 424 shares during the period. Basepoint Wealth LLC acquired a new position in Docusign in the fourth quarter valued at $39,000. Finally, Harbour Investments Inc. increased its stake in Docusign by 56.6% in the fourth quarter. Harbour Investments Inc. now owns 797 shares of the company's stock valued at $55,000 after purchasing an additional 288 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Docusign Price Performance

Shares of NASDAQ:DOCU opened at $59.64 on Tuesday. The business has a 50-day moving average of $49.23 and a two-hundred day moving average of $48.26. The firm has a market capitalization of $11.39 billion, a PE ratio of 38.73, a P/E/G ratio of 1.78 and a beta of 0.87. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. During the same period in the previous year, the company posted $0.90 EPS. The company's revenue was up 8.7% compared to the same quarter last year. As a group, research analysts anticipate that Docusign Inc. will post 2.03 earnings per share for the current year.

Insider Activity

In other news, insider Robert Chatwani sold 15,902 shares of the firm's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $43.01, for a total value of $683,945.02. Following the transaction, the insider owned 72,805 shares of the company's stock, valued at approximately $3,131,343.05. This trade represents a 17.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of Docusign stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $546,480.00. Following the transaction, the insider owned 52,815 shares in the company, valued at $2,405,195.10. The trade was a 18.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 76,695 shares of company stock valued at $3,476,002 over the last quarter. 0.59% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DOCU shares. Needham & Company LLC reissued a "hold" rating on shares of Docusign in a research note on Friday, June 5th. BTIG Research dropped their price objective on shares of Docusign from $70.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, June 5th. Wall Street Zen lowered shares of Docusign from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 2nd. Wells Fargo & Company decreased their target price on shares of Docusign from $60.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Friday, June 5th. Finally, Jefferies Financial Group boosted their target price on shares of Docusign from $45.00 to $50.00 and gave the company a "hold" rating in a report on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $60.27.

Docusign Profile

DocuSign, Inc NASDAQ: DOCU is a leading provider of electronic signature and digital transaction management solutions. The company's flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign's Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign's platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.

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