Thrivent Financial for Lutherans Purchases Shares of 2,164,393 DocuSign, Inc. (NASDAQ:DOCU)

Thrivent Financial for Lutherans purchased a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,164,393 shares of the company’s stock, valued at approximately $115,795,000. Thrivent Financial for Lutherans owned about 1.06% of DocuSign at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Coatue Management LLC bought a new position in shares of DocuSign during the 4th quarter valued at about $288,274,000. Jericho Capital Asset Management L.P. boosted its stake in DocuSign by 316.6% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after buying an additional 2,597,489 shares in the last quarter. Norges Bank bought a new position in DocuSign during the fourth quarter valued at approximately $133,826,000. Pacer Advisors Inc. raised its stake in shares of DocuSign by 77.9% during the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after acquiring an additional 1,541,816 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after acquiring an additional 576,414 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DOCU. Royal Bank of Canada lifted their target price 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. Piper Sandler dropped their target price on DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Wells Fargo & Company lifted their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Robert W. Baird increased their price objective on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, DocuSign has an average rating of “Hold” and a consensus price target of $61.45.

Insider Transactions at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 14,036 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.47, for a total transaction of $778,576.92. Following the sale, the chief financial officer now owns 87,611 shares of the company’s stock, valued at $4,859,782.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other DocuSign news, CFO Blake Jeffrey Grayson sold 14,036 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total value of $778,576.92. Following the sale, the chief financial officer now directly owns 87,611 shares of the company’s stock, valued at $4,859,782.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel D. Springer sold 287,052 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total value of $15,437,656.56. Following the transaction, the director now owns 923,445 shares of the company’s stock, valued at $49,662,872.10. The disclosure for this sale can be found here. Insiders have sold 460,864 shares of company stock valued at $24,549,227 in the last three months. 1.66% of the stock is currently owned by company insiders.

DocuSign Price Performance

DOCU stock opened at $57.97 on Friday. The firm has a 50-day moving average of $55.87 and a 200 day moving average of $56.17. The company has a market cap of $11.87 billion, a P/E ratio of 111.48, a PEG 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.

DocuSign (NASDAQ:DOCU) last announced 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. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. During the same quarter in the prior year, the company earned $0.09 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts expect that DocuSign, Inc. will post 0.99 earnings per share for the current fiscal year.

DocuSign 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.