Skandinaviska Enskilda Banken AB publ Has $46.32 Million Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 151.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 865,872 shares of the company’s stock after purchasing an additional 521,292 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.42% of DocuSign worth $46,324,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Gilbert & Cook Inc. lifted its stake in DocuSign by 7.7% in the fourth quarter. Gilbert & Cook Inc. now owns 8,497 shares of the company’s stock valued at $505,000 after acquiring an additional 604 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in DocuSign by 30.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 450,229 shares of the company’s stock valued at $26,770,000 after purchasing an additional 104,536 shares during the last quarter. Norges Bank bought a new position in DocuSign during the fourth quarter worth about $133,826,000. D.A. Davidson & CO. increased its position in DocuSign by 4.7% during the fourth quarter. D.A. Davidson & CO. now owns 10,065 shares of the company’s stock worth $598,000 after buying an additional 450 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in DocuSign by 17.3% in the fourth quarter. Franklin Resources Inc. now owns 43,325 shares of the company’s stock valued at $2,576,000 after buying an additional 6,397 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Buying and Selling at DocuSign

In related news, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the transaction, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at $6,038,584.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Daniel D. Springer sold 70,983 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the transaction, the director now owns 891,373 shares of the company’s stock, valued at $44,426,030.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the sale, the chief executive officer now directly owns 102,193 shares in the company, valued at $6,038,584.37. The disclosure for this sale can be found here. Insiders have sold a total of 460,864 shares of company stock valued at $24,549,227 in the last ninety days. 1.66% of the stock is currently owned by company insiders.

DocuSign Trading Up 2.2 %

Shares of DOCU stock opened at $57.91 on Friday. The stock has a market cap of $11.86 billion, a P/E ratio of 111.37, a price-to-earnings-growth ratio of 5.99 and a beta of 0.93. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76. The stock has a 50 day simple moving average of $55.84 and a 200 day simple moving average of $56.14.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. The company had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. DocuSign’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS. Analysts forecast that DocuSign, Inc. will post 0.99 EPS for the current year.

Wall Street Analyst Weigh In

DOCU has been the subject of several research analyst reports. Royal Bank of Canada lifted their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, September 6th. Bank of America upped their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Wells Fargo & Company upped their price target on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Finally, Piper Sandler lowered their price target on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.45.

DocuSign Company Profile

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.