Summit Trail Advisors LLC Sells 934 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Summit Trail Advisors LLC cut its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,359 shares of the company’s stock after selling 934 shares during the period. Summit Trail Advisors LLC’s holdings in DocuSign were worth $675,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. New York State Teachers Retirement System raised its holdings in DocuSign by 0.9% during the 4th quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock valued at $1,087,000 after buying an additional 163 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of DocuSign by 2.7% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock valued at $415,000 after acquiring an additional 184 shares during the period. 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 acquiring an additional 209 shares during the last quarter. SeaCrest Wealth Management LLC boosted its holdings in shares of DocuSign by 2.2% during the fourth quarter. SeaCrest Wealth Management LLC now owns 11,087 shares of the company’s stock worth $606,000 after purchasing an additional 243 shares during the period. Finally, Performa Ltd US LLC grew its stake in shares of DocuSign by 50.0% in the third quarter. Performa Ltd US LLC now owns 825 shares of the company’s stock worth $35,000 after purchasing an additional 275 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Stephen Shute sold 15,109 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total transaction of $861,515.18. Following the completion of the transaction, the insider now directly owns 8,959 shares of the company’s stock, valued at $510,842.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Teresa Briggs sold 499 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $52.99, for a total transaction of $26,442.01. Following the completion of the sale, the director now owns 6,169 shares of the company’s stock, valued at approximately $326,895.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Shute sold 15,109 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total transaction of $861,515.18. Following the completion of the transaction, the insider now owns 8,959 shares in the company, valued at approximately $510,842.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,277 shares of company stock worth $3,159,756. 1.66% of the stock is owned by corporate insiders.

DocuSign Stock Performance

Shares of NASDAQ:DOCU traded down $1.23 during trading on Tuesday, reaching $58.27. 415,715 shares of the stock traded hands, compared to its average volume of 3,086,633. The stock has a market cap of $11.97 billion, a P/E ratio of 165.28, a price-to-earnings-growth ratio of 5.17 and a beta of 0.88. The stock has a 50-day moving average of $57.39 and a two-hundred day moving average of $53.51. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 7th. The company reported $0.15 EPS 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 business had revenue of $712.39 million for the quarter, compared to the consensus estimate of $698.05 million. Sell-side analysts expect that DocuSign, Inc. will post 0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $59.00 price target on shares of DocuSign in a research report on Friday, April 12th. Morgan Stanley raised DocuSign from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $49.00 to $64.00 in a research note on Tuesday, January 16th. JMP Securities reissued a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Friday, April 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, April 12th. Finally, UBS Group upgraded shares of DocuSign from a “sell” rating to a “neutral” rating and boosted their price target for the company from $48.00 to $62.00 in a research report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus price target of $60.25.

DocuSign 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.