Commerce Bank Reduces Stock Position in DocuSign, Inc. (NASDAQ:DOCU) (2024)

Commerce Bank lowered its stake in shares of DocuSign, Inc. (NASDAQ:DOCU – Free Report) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,195 shares of the company’s stock after selling 1,026 shares during the period. Commerce Bank’s holdings in DocuSign were worth $547,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Capital Analysts LLC raised its position in shares of DocuSign by 781.7% in the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after buying an additional 469 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of DocuSign in the fourth quarter worth $32,000. Whittier Trust Co. raised its position in shares of DocuSign by 28.8% in the fourth quarter. Whittier Trust Co. now owns 935 shares of the company’s stock worth $56,000 after buying an additional 209 shares in the last quarter. Desjardins Global Asset Management Inc. raised its position in shares of DocuSign by 60.5% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 966 shares of the company’s stock worth $57,000 after buying an additional 364 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of DocuSign in the fourth quarter worth $83,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Activity at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 7,018 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $57.03, for a total transaction of $400,236.54. Following the transaction, the chief financial officer now owns 21,051 shares in the company, valued at approximately $1,200,538.53. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other DocuSign news, CEO Allan C. Thygesen sold 8,086 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $56.16, for a total transaction of $454,109.76. Following the transaction, the chief executive officer now owns 99,546 shares in the company, valued at approximately $5,590,503.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 7,018 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $57.03, for a total value of $400,236.54. Following the transaction, the chief financial officer now owns 21,051 shares in the company, valued at approximately $1,200,538.53. The disclosure for this sale can be found here. Insiders have sold a total of 47,013 shares of company stock worth $2,719,361 in the last 90 days. Company insiders own 1.66% of the company’s stock.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $54.69 on Friday. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76. The company has a market cap of $11.23 billion, a PE ratio of 151.92, a P/E/G ratio of 4.99 and a beta of 0.88. The stock’s 50-day moving average is $58.35 and its 200 day moving average is $55.64.

DocuSign (NASDAQ:DOCU – Get Free Report) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $698.05 million. Analysts expect that DocuSign, Inc. will post 0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on DOCU shares. JMP Securities reiterated a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a research report on Friday, April 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $59.00 price target on shares of DocuSign in a research note on Friday, April 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. Wells Fargo & Company dropped their price target on DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. Finally, UBS Group raised DocuSign from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $48.00 to $62.00 in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $60.25.

Get Our Latest Stock Analysis on DocuSign

DocuSign Company Profile

(Free Report)

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.

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