DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. reduced its position in shares of DocuSign, Inc. (NASDAQ:DOCUGet Rating) by 54.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,337 shares of the company’s stock after selling 6,263 shares during the period. Sigma Investment Counselors Inc.’s holdings in DocuSign were worth $306,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in shares of DocuSign by 440.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock worth $28,000 after buying an additional 220 shares during the last quarter. HM Payson & Co. increased its stake in DocuSign by 102.8% during the fourth quarter. HM Payson & Co. now owns 217 shares of the company’s stock valued at $33,000 after purchasing an additional 110 shares during the last quarter. WASHINGTON TRUST Co increased its stake in DocuSign by 125.0% during the first quarter. WASHINGTON TRUST Co now owns 360 shares of the company’s stock valued at $38,000 after purchasing an additional 200 shares during the last quarter. ACG Wealth bought a new position in shares of DocuSign during the second quarter worth about $38,000. Finally, Clearstead Advisors LLC grew its position in shares of DocuSign by 1,300.0% during the fourth quarter. Clearstead Advisors LLC now owns 280 shares of the company’s stock worth $43,000 after acquiring an additional 260 shares during the last quarter. 76.18% of the stock is owned by institutional investors and hedge funds.

DocuSign Price Performance

DocuSign stock traded down $2.19 during mid-day trading on Friday, hitting $51.81. 227,617 shares of the company were exchanged, compared to its average volume of 6,164,371. DocuSign, Inc. has a 1-year low of $52.53 and a 1-year high of $288.50. The company has a market capitalization of $10.40 billion, a PE ratio of -95.96 and a beta of 1.23. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.77. The business has a fifty day moving average of $63.48 and a 200 day moving average of $75.52.

DocuSign (NASDAQ:DOCUGet Rating) last announced its quarterly earnings data on Thursday, September 8th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. DocuSign had a negative return on equity of 21.74% and a negative net margin of 4.65%. The firm had revenue of $622.18 million during the quarter, compared to analyst estimates of $602.25 million. During the same period last year, the company earned ($0.07) earnings per share. The company’s revenue was up 21.6% on a year-over-year basis. As a group, sell-side analysts expect that DocuSign, Inc. will post -0.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

DOCU has been the subject of several recent research reports. UBS Group lowered their price target on shares of DocuSign from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, August 30th. Robert W. Baird upped their price objective on shares of DocuSign from $60.00 to $70.00 in a report on Friday, September 9th. William Blair downgraded shares of DocuSign from an “outperform” rating to a “market perform” rating in a report on Friday, June 10th. Wolfe Research upped their price objective on shares of DocuSign from $50.00 to $53.00 and gave the stock an “underperform” rating in a report on Monday, September 12th. Finally, Royal Bank of Canada downgraded shares of DocuSign from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $80.00 to $65.00 in a report on Monday, August 22nd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, DocuSign has a consensus rating of “Hold” and an average target price of $65.15.

About DocuSign

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DocuSign, Inc provides electronic signature software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they're signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.

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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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