PGGM Investments Raises Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

PGGM Investments increased its stake in DocuSign, Inc. (NASDAQ:DOCU) by 36.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,812 shares of the company’s stock after purchasing an additional 13,379 shares during the quarter. PGGM Investments’ holdings in DocuSign were worth $2,665,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System boosted its holdings in DocuSign by 0.9% in the fourth quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock worth $1,087,000 after purchasing an additional 163 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of DocuSign by 2.7% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock worth $415,000 after acquiring an additional 184 shares during the last quarter. Motley Fool Asset Management LLC boosted its stake in shares of DocuSign by 6.0% during the 1st quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company’s stock worth $236,000 after acquiring an additional 224 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of DocuSign by 0.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,899 shares of the company’s stock worth $4,617,000 after acquiring an additional 239 shares during the last quarter. Finally, SeaCrest Wealth Management LLC boosted its stake in shares of DocuSign by 2.2% during the 1st quarter. SeaCrest Wealth Management LLC now owns 11,327 shares of the company’s stock worth $675,000 after acquiring an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,911 shares of DocuSign stock in a transaction on Monday, July 1st. The shares were sold at an average price of $53.77, for a total value of $425,374.47. Following the sale, the chief executive officer now directly owns 117,643 shares in the company, valued at approximately $6,325,664.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other DocuSign news, CEO Allan C. Thygesen sold 7,911 shares of DocuSign stock in a transaction on Monday, July 1st. The shares were sold at an average price of $53.77, for a total value of $425,374.47. Following the completion of the transaction, the chief executive officer now directly owns 117,643 shares of the company’s stock, valued at approximately $6,325,664.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel D. Springer sold 70,983 shares of DocuSign stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the completion of the transaction, the director now directly owns 891,373 shares of the company’s stock, valued at $44,426,030.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 475,192 shares of company stock worth $25,095,034. Insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DOCU shares. Morgan Stanley dropped their price target on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 7th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, June 7th. Bank of America dropped their price target on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada dropped their price target on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a research note on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.36.

DocuSign Price Performance

Shares of DOCU stock traded up $0.61 on Thursday, hitting $56.20. 473,697 shares of the stock traded hands, compared to its average volume of 2,717,030. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 108.29, a PEG ratio of 8.34 and a beta of 0.94. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76. The firm has a 50 day simple moving average of $53.44 and a two-hundred day simple moving average of $55.45.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, June 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 3.81% and a return on equity of 15.44%. Sell-side analysts forecast that DocuSign, Inc. will post 0.88 EPS for the current year.

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.