Natixis Advisors LLC Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

Natixis Advisors LLC purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 14,058 shares of the company’s stock, valued at approximately $873,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Thrivent Financial for Lutherans bought a new position in DocuSign during the second quarter worth $115,795,000. Pacer Advisors Inc. lifted its position in shares of DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after buying an additional 1,541,816 shares during the last quarter. KBC Group NV lifted its holdings in DocuSign by 209.8% in the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock worth $71,830,000 after acquiring an additional 783,419 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of DocuSign by 18.3% during the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after purchasing an additional 576,414 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of DocuSign by 151.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock worth $46,324,000 after purchasing an additional 521,292 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America upped their price target on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Wells Fargo & Company boosted their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Citigroup boosted their price target on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, Robert W. Baird boosted their target price on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Two research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $65.80.

Insider Transactions at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the transaction, the director now owns 7,202 shares in the company, valued at $407,345.12. The trade was a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the sale, the insider now directly owns 70,748 shares of the company’s stock, valued at $3,923,684.08. This trade represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,558 shares of company stock valued at $4,272,768 over the last three months. 1.66% of the stock is owned by corporate insiders.

DocuSign Price Performance

DOCU stock opened at $80.38 on Thursday. The firm has a market capitalization of $16.31 billion, a P/E ratio of 16.96, a P/E/G ratio of 9.05 and a beta of 0.90. DocuSign, Inc. has a 52-week low of $42.13 and a 52-week high of $86.75. The company’s 50 day simple moving average is $71.11 and its 200-day simple moving average is $60.79.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company 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 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts predict that DocuSign, Inc. will post 1.01 EPS for the current fiscal year.

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.