Handelsbanken Fonder AB Has $3.30 Million Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Handelsbanken Fonder AB decreased its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 68.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,200 shares of the company’s stock after selling 115,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in DocuSign were worth $3,303,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Comerica Bank raised its stake in DocuSign by 228.8% during the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after buying an additional 20,110 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of DocuSign by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after purchasing an additional 417,352 shares during the period. Retirement Systems of Alabama bought a new position in shares of DocuSign during the 1st quarter worth approximately $8,700,000. PGGM Investments grew its position in shares of DocuSign by 36.7% during the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after buying an additional 13,379 shares during the period. Finally, Advisory Services Network LLC increased its stake in shares of DocuSign by 77.8% in the 1st quarter. Advisory Services Network LLC now owns 56,494 shares of the company’s stock valued at $3,364,000 after acquiring an additional 24,718 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Up 6.5 %

DOCU opened at $66.89 on Wednesday. DocuSign, Inc. has a twelve month low of $38.11 and a twelve month high of $68.64. The company’s 50-day moving average price is $57.14 and its two-hundred day moving average price is $56.53. The stock has a market cap of $13.69 billion, a price-to-earnings ratio of 128.63, a PEG ratio of 6.37 and a beta of 0.92.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating 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 business had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. DocuSign’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, sell-side analysts anticipate that DocuSign, Inc. will post 0.99 earnings per share for the current year.

Insider Buying and Selling

In other DocuSign news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the sale, the director now directly owns 7,202 shares of the company’s stock, valued at $407,345.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $54.89, for a total value of $424,025.25. Following the completion of the transaction, the chief executive officer now directly owns 109,918 shares in the company, valued at approximately $6,033,399.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the sale, the director now owns 7,202 shares in the company, valued at approximately $407,345.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 410,502 shares of company stock valued at $21,963,248. 1.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DOCU shares. Royal Bank of Canada lifted their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research report on Thursday, September 5th. Citigroup increased their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Bank of America boosted their price objective on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.40.

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.