DekaBank Deutsche Girozentrale Purchases 17,984 Shares of DocuSign, Inc. (NASDAQ:DOCU)

DekaBank Deutsche Girozentrale boosted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 58.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,675 shares of the company’s stock after buying an additional 17,984 shares during the period. DekaBank Deutsche Girozentrale’s holdings in DocuSign were worth $2,555,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DOCU. Gilbert & Cook Inc. grew its holdings in shares of DocuSign by 7.7% during the fourth quarter. Gilbert & Cook Inc. now owns 8,497 shares of the company’s stock worth $505,000 after purchasing an additional 604 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of DocuSign by 30.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 450,229 shares of the company’s stock worth $26,770,000 after buying an additional 104,536 shares during the last quarter. Norges Bank bought a new position in shares of DocuSign in the 4th quarter worth $133,826,000. D.A. Davidson & CO. lifted its holdings in shares of DocuSign by 4.7% during the 4th quarter. D.A. Davidson & CO. now owns 10,065 shares of the company’s stock worth $598,000 after acquiring an additional 450 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in DocuSign by 17.3% in the fourth quarter. Franklin Resources Inc. now owns 43,325 shares of the company’s stock worth $2,576,000 after acquiring an additional 6,397 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DOCU has been the topic of a number of research reports. Robert W. Baird raised their price target on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Piper Sandler reduced their price target on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Morgan Stanley lowered their price objective on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. Finally, Bank of America increased their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, DocuSign has an average rating of “Hold” and a consensus price target of $61.45.

DocuSign Trading Up 1.7 %

DOCU stock opened at $56.64 on Thursday. The firm’s 50-day moving average price is $55.76 and its two-hundred day moving average price is $56.13. The stock has a market capitalization of $11.60 billion, a price-to-earnings ratio of 108.92, a PEG ratio of 5.99 and a beta of 0.93. DocuSign, Inc. has a 12-month low of $38.11 and a 12-month high of $64.76.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The business had revenue of $736.03 million during 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 EPS. Equities analysts predict that DocuSign, Inc. will post 0.99 EPS for the current year.

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 7,911 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $53.77, for a total transaction of $425,374.47. Following the transaction, the chief executive officer now directly owns 117,643 shares of the company’s stock, valued at approximately $6,325,664.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other DocuSign news, CEO Allan C. Thygesen sold 7,911 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $53.77, for a total transaction of $425,374.47. Following the transaction, the chief executive officer now owns 117,643 shares in the company, valued at approximately $6,325,664.11. 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 the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the completion of the transaction, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at approximately $6,038,584.37. The disclosure for this sale can be found here. Insiders sold 460,864 shares of company stock valued at $24,549,227 over the last quarter. 1.66% of the stock is owned by company insiders.

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.