Docusign Inc. $DOCU Holdings Cut by Andrew Hill Investment Advisors Inc.

Andrew Hill Investment Advisors Inc. lowered its position in shares of Docusign Inc. (NASDAQ:DOCU) by 50.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,639 shares of the company’s stock after selling 20,698 shares during the period. Docusign makes up approximately 1.1% of Andrew Hill Investment Advisors Inc.’s portfolio, making the stock its 28th largest position. Andrew Hill Investment Advisors Inc.’s holdings in Docusign were worth $1,386,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new position in Docusign in the third quarter worth approximately $27,000. WealthCollab LLC grew its holdings in Docusign by 372.4% during the 1st quarter. WealthCollab LLC now owns 855 shares of the company’s stock worth $41,000 after acquiring an additional 674 shares in the last quarter. Elevation Wealth Partners LLC grew its holdings in Docusign by 71.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 876 shares of the company’s stock worth $59,000 after acquiring an additional 364 shares in the last quarter. Virtus Advisers LLC acquired a new stake in shares of Docusign in the 2nd quarter valued at $47,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Docusign in the 2nd quarter valued at $49,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider James P. Shaughnessy sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $68.80, for a total value of $825,600.00. Following the completion of the sale, the insider directly owned 50,591 shares in the company, valued at approximately $3,480,660.80. The trade was a 19.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $69.29, for a total transaction of $1,818,862.50. Following the completion of the transaction, the chief executive officer owned 166,801 shares of the company’s stock, valued at $11,557,641.29. This trade represents a 13.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 165,868 shares of company stock worth $11,121,890 in the last quarter. Insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price objective on Docusign from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, September 4th. Wall Street Zen lowered shares of Docusign from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. BTIG Research boosted their target price on shares of Docusign from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Piper Sandler lifted their price target on Docusign from $52.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Finally, Citigroup upped their price target on shares of Docusign from $54.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Three research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.62.

Docusign Stock Up 1.0%

Shares of NASDAQ:DOCU opened at $85.27 on Friday. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $85.39. The business has a 50 day moving average of $68.76 and a 200-day moving average of $55.89. The stock has a market cap of $15.94 billion, a PE ratio of 50.24, a P/E/G ratio of 3.12 and a beta of 0.86.

Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 3rd. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.07. The company had revenue of $875.75 million during the quarter, compared to the consensus estimate of $867.22 million. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 earnings per share. Equities research analysts expect that Docusign Inc. will post 2.14 earnings per share for the current year.

About Docusign

DocuSign, Inc is a software company that provides digital agreement and electronic signature solutions. Its platform enables individuals and organizations to prepare, send, sign, manage and store agreements electronically, helping customers replace paper-based contracting processes with digital workflows.

The company’s offerings include eSignature, contract lifecycle management, identity verification, notarization and agreement analytics tools. These products are designed to support agreement creation, negotiation, execution and post-signature management across functions such as sales, human resources, procurement, legal and finance.

Founded in 2003, DocuSign serves businesses, government organizations and individual users in markets around the world.