DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN lowered its position in DocuSign, Inc. (NASDAQ:DOCU) by 12.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,109 shares of the company’s stock after selling 900 shares during the period. Patten & Patten Inc. TN’s holdings in DocuSign were worth $549,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in DOCU. Itau Unibanco Holding S.A. acquired a new stake in DocuSign in the third quarter valued at about $28,000. Kestra Investment Management LLC acquired a new stake in shares of DocuSign during the 4th quarter valued at approximately $30,000. Brooklyn Investment Group acquired a new stake in shares of DocuSign during the 3rd quarter valued at approximately $33,000. Modus Advisors LLC acquired a new stake in shares of DocuSign during the 4th quarter valued at approximately $36,000. Finally, First Horizon Advisors Inc. lifted its position in shares of DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after acquiring an additional 201 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Performance

DOCU stock opened at $85.76 on Monday. The stock has a market capitalization of $17.33 billion, a P/E ratio of 17.68, a PEG ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The company has a 50 day moving average price of $87.97 and a two-hundred day moving average price of $79.52.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. During the same period in the previous year, the company earned $0.76 EPS. DocuSign’s revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Activity

In other news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total transaction of $676,275.00. Following the completion of the sale, the insider now directly owns 43,781 shares of the company’s stock, valued at $3,947,732.77. The trade was a 14.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the sale, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at $14,050,742. This represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,888 shares of company stock valued at $8,856,718 in the last ninety days. Company insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research report on Tuesday, January 7th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday. Jefferies Financial Group lifted their price objective on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Wedbush restated a “neutral” rating and set a $100.00 price objective on shares of DocuSign in a research report on Friday. Finally, UBS Group cut their price objective on DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $95.58.

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.