Summit Global Investments Has $263,000 Position in DocuSign, Inc. (NASDAQ:DOCU)

Summit Global Investments decreased its position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 83.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,428 shares of the company's stock after selling 22,079 shares during the quarter. Summit Global Investments' holdings in DocuSign were worth $263,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Analysts LLC raised its stake in shares of DocuSign by 781.7% during the fourth quarter. Capital Analysts LLC now owns 529 shares of the company's stock valued at $31,000 after purchasing an additional 469 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of DocuSign during the fourth quarter valued at about $32,000. BluePath Capital Management LLC bought a new stake in shares of DocuSign during the third quarter valued at about $32,000. Performa Ltd US LLC raised its stake in shares of DocuSign by 50.0% during the third quarter. Performa Ltd US LLC now owns 825 shares of the company's stock valued at $35,000 after purchasing an additional 275 shares in the last quarter. Finally, Whittier Trust Co. raised its stake in shares of DocuSign by 28.8% during the fourth quarter. Whittier Trust Co. now owns 935 shares of the company's stock valued at $56,000 after purchasing an additional 209 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DOCU shares. JMP Securities restated a "market outperform" rating and set a $84.00 price objective on shares of DocuSign in a research note on Friday, April 12th. Morgan Stanley upgraded shares of DocuSign from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $49.00 to $64.00 in a research report on Tuesday, January 16th. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research report on Friday, April 12th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $59.00 price target on shares of DocuSign in a research report on Friday, April 12th. Finally, Wells Fargo & Company dropped their price target on shares of DocuSign from $55.00 to $45.00 and set an "underweight" rating on the stock in a research report on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $60.25.

Insider Buying and Selling at DocuSign

In other DocuSign news, Director Peter Solvik sold 15,000 shares of DocuSign stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total transaction of $900,000.00. Following the transaction, the director now owns 783 shares of the company's stock, valued at approximately $46,980. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Allan C. Thygesen sold 7,765 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.31, for a total value of $413,952.15. Following the completion of the sale, the chief executive officer now owns 104,002 shares of the company's stock, valued at approximately $5,544,346.62. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter Solvik sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the sale, the director now directly owns 783 shares of the company's stock, valued at approximately $46,980. The disclosure for this sale can be found here. Insiders have sold a total of 55,277 shares of company stock valued at $3,159,756 in the last 90 days. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Price Performance

NASDAQ DOCU traded down $1.19 on Tuesday, hitting $58.31. 1,517,313 shares of the company were exchanged, compared to its average volume of 3,099,952. DocuSign, Inc. has a twelve month low of $38.11 and a twelve month high of $64.76. The company's 50 day moving average price is $57.39 and its 200-day moving average price is $53.51. The firm has a market capitalization of $11.98 billion, a P/E ratio of 165.28, a price-to-earnings-growth ratio of 5.17 and a beta of 0.88.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its earnings results on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The company had revenue of $712.39 million for the quarter, compared to analysts' expectations of $698.05 million. As a group, equities analysts expect that DocuSign, Inc. will post 0.87 EPS for the current year.

DocuSign Company Profile

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.