Canton Hathaway LLC Has $1.19 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Canton Hathaway LLC lessened its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 26.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,205 shares of the company’s stock after selling 6,980 shares during the quarter. Canton Hathaway LLC’s holdings in DocuSign were worth $1,192,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Truvestments Capital LLC bought a new stake in shares of DocuSign in the 3rd quarter valued at about $74,000. DRW Securities LLC acquired a new stake in DocuSign during the 3rd quarter valued at approximately $339,000. Harvest Fund Management Co. Ltd bought a new position in DocuSign during the 3rd quarter worth approximately $306,000. Swedbank AB lifted its position in shares of DocuSign by 6.1% in the 3rd quarter. Swedbank AB now owns 124,131 shares of the company’s stock worth $7,707,000 after purchasing an additional 7,090 shares during the period. Finally, Cerity Partners LLC boosted its stake in shares of DocuSign by 39.6% in the 3rd quarter. Cerity Partners LLC now owns 101,600 shares of the company’s stock valued at $6,308,000 after purchasing an additional 28,829 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Allan C. Thygesen sold 7,764 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the transaction, the chief executive officer now directly owns 107,825 shares of the company’s stock, valued at $7,542,358.75. This trade represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now directly owns 7,202 shares of the company’s stock, valued at $407,345.12. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,558 shares of company stock valued at $4,272,768. Corporate insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DOCU. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. JMP Securities boosted their price objective on DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research note on Friday. Citigroup raised their target price on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Robert W. Baird boosted 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. Finally, Royal Bank of Canada raised their price objective on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Two 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 target price of $65.80.

DocuSign Trading Up 1.8 %

Shares of DOCU stock opened at $84.49 on Monday. The firm has a fifty day simple moving average of $69.47 and a two-hundred day simple moving average of $60.27. DocuSign, Inc. has a 12 month low of $42.13 and a 12 month high of $84.49. The firm has a market capitalization of $17.15 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 8.79 and a beta of 0.90.

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

About DocuSign

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.