Allspring Global Investments Holdings LLC Grows Position in DocuSign, Inc. (NASDAQ:DOCU)

Allspring Global Investments Holdings LLC lifted its stake in DocuSign, Inc. (NASDAQ:DOCU) by 2,194.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,688 shares of the company’s stock after purchasing an additional 101,082 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.05% of DocuSign worth $6,562,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Diversified Trust Co raised its stake in shares of DocuSign by 80.2% in the 1st quarter. Diversified Trust Co now owns 11,154 shares of the company’s stock valued at $664,000 after acquiring an additional 4,963 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in DocuSign in the first quarter valued at approximately $6,741,000. Quattro Financial Advisors LLC boosted its stake in DocuSign by 16,849.2% during the 1st quarter. Quattro Financial Advisors LLC now owns 10,000 shares of the company’s stock worth $596,000 after purchasing an additional 9,941 shares during the period. SeaCrest Wealth Management LLC boosted its stake in shares of DocuSign by 2.2% during the first quarter. SeaCrest Wealth Management LLC now owns 11,327 shares of the company’s stock worth $675,000 after buying an additional 240 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of DocuSign by 0.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 473,219 shares of the company’s stock valued at $28,180,000 after purchasing an additional 3,038 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Trading Down 2.3 %

NASDAQ:DOCU opened at $68.99 on Monday. The firm’s fifty day simple moving average is $61.87 and its 200 day simple moving average is $57.64. DocuSign, Inc. has a twelve month low of $38.11 and a twelve month high of $73.80. The firm has a market capitalization of $14.12 billion, a price-to-earnings ratio of 132.67, a PEG ratio of 7.33 and a beta of 0.92.

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

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 9,552 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $68.80, for a total value of $657,177.60. Following the transaction, the chief financial officer now owns 78,265 shares in the company, valued at $5,384,632. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other DocuSign news, CFO Blake Jeffrey Grayson sold 9,552 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total value of $657,177.60. Following the transaction, the chief financial officer now directly owns 78,265 shares of the company’s stock, valued at $5,384,632. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the transaction, the insider now owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 427,554 shares of company stock worth $23,129,150 in the last 90 days. 1.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. 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 note on Friday, September 6th. Bank of America boosted their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” 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 report on Friday, September 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, DocuSign has an average rating of “Hold” and a consensus target price of $63.40.

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.