DnB Asset Management AS Increases Holdings in DocuSign, Inc. (NASDAQ:DOCU)

DnB Asset Management AS raised its stake in DocuSign, Inc. (NASDAQ:DOCU) by 12.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,620 shares of the company’s stock after buying an additional 4,020 shares during the quarter. DnB Asset Management AS’s holdings in DocuSign were worth $3,384,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp grew its holdings in shares of DocuSign by 2.3% in the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after purchasing an additional 120,743 shares during the period. American Century Companies Inc. boosted its holdings in DocuSign by 18.5% in the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock valued at $478,072,000 after purchasing an additional 831,611 shares during the last quarter. Geode Capital Management LLC boosted its holdings in DocuSign by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after purchasing an additional 53,554 shares during the last quarter. Norges Bank acquired a new stake in shares of DocuSign during the 4th quarter worth approximately $223,196,000. Finally, Thrivent Financial for Lutherans raised its position in shares of DocuSign by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 2,318,137 shares of the company’s stock valued at $208,494,000 after buying an additional 40,825 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. Bank of America lowered their price target on DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Morgan Stanley boosted their price objective on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price target on shares of DocuSign in a research note on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $95.83.

Insider Activity at DocuSign

In other news, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the transaction, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This represents a 20.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total value of $676,275.00. Following the sale, the insider now directly owns 43,781 shares in the company, valued at $3,947,732.77. This trade represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,851 shares of company stock valued at $8,579,369 over the last 90 days. 1.66% of the stock is owned by corporate insiders.

DocuSign Trading Down 2.1 %

Shares of NASDAQ DOCU opened at $81.40 on Tuesday. The stock has a market cap of $16.48 billion, a P/E ratio of 16.78, a PEG ratio of 6.94 and a beta of 1.02. The business’s fifty day simple moving average is $87.01 and its 200-day simple moving average is $81.71. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same quarter last year, the company earned $0.76 EPS. DocuSign’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities analysts forecast that DocuSign, Inc. will post 1.17 EPS 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.