DocuSign, Inc. (NASDAQ:DOCU) Stake Lowered by Canandaigua National Corp

Canandaigua National Corp cut its stake in shares of DocuSign, Inc. (NASDAQ:DOCUGet Rating) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,254 shares of the company’s stock after selling 223 shares during the quarter. Canandaigua National Corp’s holdings in DocuSign were worth $588,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. HM Payson & Co. grew its holdings in shares of DocuSign by 102.8% during the fourth quarter. HM Payson & Co. now owns 217 shares of the company’s stock valued at $33,000 after purchasing an additional 110 shares during the last quarter. Covestor Ltd bought a new position in shares of DocuSign during the fourth quarter valued at approximately $40,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of DocuSign by 440.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock valued at $28,000 after purchasing an additional 220 shares during the last quarter. Clearstead Advisors LLC boosted its position in shares of DocuSign by 1,300.0% during the fourth quarter. Clearstead Advisors LLC now owns 280 shares of the company’s stock worth $43,000 after buying an additional 260 shares during the period. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of DocuSign during the fourth quarter worth approximately $47,000. 76.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Bank of America downgraded DocuSign from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $120.00 to $72.00 in a research report on Friday, June 10th. Royal Bank of Canada downgraded DocuSign from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $80.00 to $65.00 in a research report on Monday, August 22nd. JMP Securities reduced their price objective on DocuSign from $151.00 to $84.00 and set a “market outperform” rating for the company in a research report on Friday, September 2nd. Piper Sandler downgraded DocuSign from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $65.00 to $54.00 in a research report on Wednesday, July 20th. Finally, Morgan Stanley reduced their price objective on DocuSign from $80.00 to $73.00 and set an “equal weight” rating for the company in a research report on Friday, June 10th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and an average price target of $65.75.

DocuSign Price Performance

NASDAQ DOCU opened at $56.48 on Tuesday. The stock has a market capitalization of $11.34 billion, a P/E ratio of -104.59 and a beta of 1.23. DocuSign, Inc. has a 1 year low of $53.25 and a 1 year high of $288.50. The business’s fifty day moving average is $63.89 and its two-hundred day moving average is $76.10. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.01 and a current ratio of 1.01.

DocuSign (NASDAQ:DOCUGet Rating) last posted its quarterly earnings results on Thursday, September 8th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $622.18 million for the quarter, compared to analysts’ expectations of $602.25 million. DocuSign had a negative return on equity of 21.74% and a negative net margin of 4.65%. The firm’s revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) earnings per share. On average, research analysts forecast that DocuSign, Inc. will post -0.45 earnings per share for the current fiscal year.

DocuSign Profile

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DocuSign, Inc provides electronic signature software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they're signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.

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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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