DNB Asset Management AS Acquires 4,668 Shares of DocuSign, Inc. (NASDAQ:DOCU)

DNB Asset Management AS boosted its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 16.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,600 shares of the company’s stock after purchasing an additional 4,668 shares during the quarter. DNB Asset Management AS’s holdings in DocuSign were worth $1,798,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its position in DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the last quarter. Capital Analysts LLC lifted its stake in shares of DocuSign by 781.7% in the 4th quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after purchasing an additional 469 shares during the period. Register Financial Advisors LLC purchased a new position in shares of DocuSign in the first quarter worth approximately $37,000. ICA Group Wealth Management LLC bought a new stake in DocuSign during the fourth quarter valued at approximately $39,000. Finally, Desjardins Global Asset Management Inc. increased its holdings in DocuSign by 60.5% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 966 shares of the company’s stock valued at $57,000 after buying an additional 364 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

DocuSign Stock Up 2.1 %

DocuSign stock opened at $51.62 on Wednesday. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76. The firm’s fifty day moving average is $53.66 and its 200 day moving average is $55.81. The company has a market cap of $10.57 billion, a price-to-earnings ratio of 97.27, a PEG ratio of 8.34 and a beta of 0.94.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.09. The firm had revenue of $709.64 million for the quarter, compared to analysts’ expectations of $706.07 million. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. On average, equities research analysts anticipate that DocuSign, Inc. will post 0.88 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Daniel D. Springer sold 287,052 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the sale, the director now owns 923,445 shares in the company, valued at approximately $49,662,872.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Daniel D. Springer sold 287,052 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the transaction, the director now directly owns 923,445 shares in the company, valued at approximately $49,662,872.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 7,911 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $53.77, for a total transaction of $425,374.47. Following the completion of the sale, the chief executive officer now directly owns 117,643 shares of the company’s stock, valued at approximately $6,325,664.11. The disclosure for this sale can be found here. Insiders sold 475,192 shares of company stock valued at $25,095,034 in the last ninety days. Insiders own 1.66% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on DOCU. Citigroup reduced their price objective on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. JMP Securities restated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Wednesday, July 10th. Bank of America dropped their target price on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Piper Sandler decreased their price target on DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Finally, UBS Group raised 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 research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $59.36.

DocuSign 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.