KLP Kapitalforvaltning AS Takes $24.18 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

KLP Kapitalforvaltning AS bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 268,800 shares of the company’s stock, valued at approximately $24,176,000. KLP Kapitalforvaltning AS owned 0.13% of DocuSign as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in shares of DocuSign by 14.5% during the fourth quarter. Sei Investments Co. now owns 56,807 shares of the company’s stock worth $5,109,000 after acquiring an additional 7,215 shares during the period. American Century Companies Inc. grew its stake in DocuSign by 18.5% during the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock worth $478,072,000 after purchasing an additional 831,611 shares in the last quarter. Quantbot Technologies LP purchased a new stake in DocuSign during the 4th quarter worth about $1,421,000. Virtu Financial LLC acquired a new stake in DocuSign in the 4th quarter valued at about $1,494,000. Finally, Oxford Financial Group LTD. LLC purchased a new position in shares of DocuSign in the 4th quarter valued at about $1,639,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Stock Up 3.5 %

Shares of NASDAQ DOCU opened at $88.06 on Friday. The business has a 50-day moving average price of $87.54 and a 200 day moving average price of $80.31. The stock has a market cap of $17.79 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 earnings per share. Sell-side analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on DOCU shares. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price on shares of DocuSign in a research note on Friday, March 14th. Jefferies Financial Group increased their price objective on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Morgan Stanley lifted their price objective on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, March 14th. Finally, HSBC restated a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, DocuSign has an average rating of “Hold” and an average target price of $95.00.

Insiders Place Their Bets

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total value of $676,275.00. Following the transaction, the insider now directly owns 43,781 shares in the company, valued at approximately $3,947,732.77. This trade represents a 14.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the transaction, the chief executive officer now directly owns 156,050 shares in the company, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,851 shares of company stock valued at $8,579,369. Insiders own 1.66% of the company’s stock.

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.