DNB Asset Management AS Raises Stake in DocuSign, Inc. (NASDAQ:DOCU)

DNB Asset Management AS lifted its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 16.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 33,600 shares of the company’s stock after buying an additional 4,668 shares during the period. DNB Asset Management AS’s holdings in DocuSign were worth $1,798,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its holdings in shares of DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the last quarter. Cetera Advisors LLC boosted its stake in DocuSign by 38.0% in the 1st quarter. Cetera Advisors LLC now owns 12,866 shares of the company’s stock worth $766,000 after buying an additional 3,542 shares during the last quarter. Cetera Investment Advisers grew its holdings in DocuSign by 455.7% in the 1st quarter. Cetera Investment Advisers now owns 45,709 shares of the company’s stock valued at $2,722,000 after buying an additional 37,484 shares during the period. PGGM Investments increased its stake in shares of DocuSign by 682.0% during the 1st quarter. PGGM Investments now owns 36,433 shares of the company’s stock valued at $2,170,000 after acquiring an additional 31,774 shares during the last quarter. Finally, Burney Co. lifted its holdings in shares of DocuSign by 178.1% during the 1st quarter. Burney Co. now owns 188,241 shares of the company’s stock worth $11,210,000 after acquiring an additional 120,558 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on DOCU. JMP Securities restated a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a report on Wednesday, July 10th. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $48.00 to $62.00 in a report on Friday, April 12th. Morgan Stanley reduced their target price on DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a report on Friday, June 7th. Royal Bank of Canada dropped their price target on DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a research note on Friday, June 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $59.36.

Insider Transactions at DocuSign

In other DocuSign news, Director Teresa Briggs sold 499 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $54.92, for a total value of $27,405.08. Following the transaction, the director now owns 6,668 shares of the company’s stock, valued at $366,206.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Teresa Briggs sold 499 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $54.92, for a total value of $27,405.08. Following the completion of the transaction, the director now directly owns 6,668 shares in the company, valued at $366,206.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James P. Shaughnessy sold 1,800 shares of DocuSign stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $50.98, for a total value of $91,764.00. Following the transaction, the insider now owns 35,703 shares in the company, valued at $1,820,138.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 475,192 shares of company stock valued at $25,095,034. Insiders own 1.66% of the company’s stock.

DocuSign Price Performance

Shares of DocuSign stock opened at $51.62 on Wednesday. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76. The company has a market capitalization of $10.57 billion, a PE ratio of 97.27, a P/E/G ratio of 8.34 and a beta of 0.94. The business has a 50-day moving average of $53.66 and a 200-day moving average of $55.81.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.09. The company had revenue of $709.64 million for the quarter, compared to the consensus estimate of $706.07 million. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. On average, equities analysts expect that DocuSign, Inc. will post 0.88 earnings per share 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.