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

Swedbank AB boosted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 6.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 124,131 shares of the company’s stock after buying an additional 7,090 shares during the quarter. Swedbank AB’s holdings in DocuSign were worth $7,707,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. O Shaughnessy Asset Management LLC boosted its holdings in DocuSign by 9.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,165 shares of the company’s stock valued at $427,000 after purchasing an additional 593 shares during the last quarter. Motley Fool Asset Management LLC boosted its stake in shares of DocuSign by 6.0% in the first quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company’s stock worth $236,000 after buying an additional 224 shares during the last quarter. Comerica Bank grew its holdings in DocuSign by 228.8% during the first quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after acquiring an additional 20,110 shares during the period. iA Global Asset Management Inc. grew its holdings in DocuSign by 112.1% during the first quarter. iA Global Asset Management Inc. now owns 9,494 shares of the company’s stock worth $565,000 after acquiring an additional 5,018 shares during the period. Finally, Plato Investment Management Ltd raised its position in DocuSign by 1,113.7% during the first quarter. Plato Investment Management Ltd now owns 21,858 shares of the company’s stock valued at $1,302,000 after acquiring an additional 20,057 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 in the company, valued at approximately $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 accessible through this link. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on 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. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,558 shares of company stock worth $4,272,768. Company insiders own 1.66% of the company’s stock.

DocuSign Price Performance

Shares of NASDAQ DOCU opened at $85.30 on Wednesday. The company has a market capitalization of $17.31 billion, a P/E ratio of 18.00, a P/E/G ratio of 8.79 and a beta of 0.90. The company has a 50 day simple moving average of $70.63 and a 200-day simple moving average of $60.66. DocuSign, Inc. has a 1 year low of $42.13 and a 1 year high of $86.75.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (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 company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter last year, the firm earned $0.09 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, research analysts expect that DocuSign, Inc. will post 1.01 EPS for the current year.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Wells Fargo & Company increased their target price on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Citigroup lifted their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Robert W. Baird boosted their price target on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, Bank of America raised their price objective on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Two 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 MarketBeat.com, DocuSign has a consensus rating of “Hold” and an average target price of $65.80.

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.