Grimes & Company Inc. Sells 10,751 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Grimes & Company Inc. reduced its stake in DocuSign, Inc. (NASDAQ:DOCU) by 3.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 270,252 shares of the company’s stock after selling 10,751 shares during the period. Grimes & Company Inc. owned 0.13% of DocuSign worth $16,780,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DOCU. Inspire Investing LLC acquired a new stake in DocuSign during the 3rd quarter worth $911,000. Comerica Bank raised its stake in DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after buying an additional 20,110 shares during the period. Retirement Systems of Alabama acquired a new stake in DocuSign during the 1st quarter worth $8,700,000. PGGM Investments raised its stake in DocuSign by 36.7% during the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after buying an additional 13,379 shares during the period. Finally, Claro Advisors LLC acquired a new stake in DocuSign during the 3rd quarter worth $727,000. 77.64% of the stock is currently owned by institutional investors.

DocuSign Stock Performance

DocuSign stock traded up $0.61 during midday trading on Thursday, reaching $71.17. 130,468 shares of the company’s stock were exchanged, compared to its average volume of 2,924,413. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $73.80. The firm has a market cap of $14.57 billion, a price-to-earnings ratio of 135.69, a P/E/G ratio of 7.33 and a beta of 0.92. The stock’s 50-day simple moving average is $61.35 and its 200 day simple moving average is $57.50.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The business had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter last year, the company posted $0.09 earnings per share. DocuSign’s quarterly revenue was up 7.0% on a year-over-year basis. Research analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DOCU. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. Wells Fargo & Company lifted their price target on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Robert W. Baird lifted their price target on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Citigroup lifted their price target on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada lifted their price target on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $63.40.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 9,552 shares of DocuSign stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total transaction of $657,177.60. Following the completion of the transaction, the chief financial officer now owns 78,265 shares in the company, valued at approximately $5,384,632. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total transaction of $508,725.00. Following the completion of the sale, the insider now owns 43,301 shares in the company, valued at $2,937,106.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total value of $657,177.60. Following the sale, the chief financial officer now owns 78,265 shares of the company’s stock, valued at approximately $5,384,632. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 427,554 shares of company stock worth $23,129,150. Company insiders own 1.66% of the company’s stock.

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.