Swedbank AB Boosts Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Swedbank AB grew its position in DocuSign, Inc. (NASDAQ:DOCU) by 6.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,131 shares of the company’s stock after acquiring an additional 7,090 shares during the quarter. Swedbank AB owned about 0.06% of DocuSign worth $7,707,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DOCU. Thrivent Financial for Lutherans purchased a new stake in DocuSign in the 2nd quarter worth about $115,795,000. Pacer Advisors Inc. raised its holdings in shares of DocuSign by 77.9% in the second 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 period. KBC Group NV lifted its stake in shares of DocuSign by 209.8% during the 3rd 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 position in DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after acquiring an additional 576,414 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its position in DocuSign by 151.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock valued at $46,324,000 after acquiring an additional 521,292 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on DOCU shares. 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. Wells Fargo & Company boosted their price objective on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Royal Bank of Canada raised their target price on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. JMP Securities boosted their price target on DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Finally, Robert W. Baird raised their price objective on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, DocuSign has a consensus rating of “Hold” and a consensus price target of $65.80.

DocuSign Stock Down 0.2 %

Shares of NASDAQ:DOCU opened at $85.30 on Wednesday. The firm has a 50 day moving average of $70.63 and a 200 day moving average of $60.66. The company has a market capitalization of $17.31 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 8.79 and a beta of 0.90. DocuSign, Inc. has a 52 week low of $42.13 and a 52 week high of $86.75.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping 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 firm had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. During the same period in the previous year, the company posted $0.09 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts expect that DocuSign, Inc. will post 1.01 EPS for the current year.

Insider Buying and Selling at DocuSign

In other news, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 102,193 shares of the company’s stock, valued at $6,038,584.37. This trade represents a 7.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $30,203.04. Following the transaction, the director now directly owns 7,202 shares in the company, valued at $407,345.12. This represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is currently owned by insiders.

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.