KBC Group NV raised its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU – Free Report) by 29.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,080 shares of the company’s stock after acquiring an additional 12,577 shares during the quarter. KBC Group NV’s holdings in DocuSign were worth $3,211,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. MetLife Investment Management LLC acquired a new position in shares of DocuSign in the first quarter valued at $1,337,000. Raymond James Trust N.A. boosted its holdings in DocuSign by 27.3% in the first quarter. Raymond James Trust N.A. now owns 4,206 shares of the company’s stock valued at $450,000 after acquiring an additional 901 shares during the last quarter. Sei Investments Co. boosted its holdings in DocuSign by 21.8% in the first quarter. Sei Investments Co. now owns 177,214 shares of the company’s stock valued at $18,934,000 after acquiring an additional 31,769 shares during the last quarter. National Pension Service lifted its stake in DocuSign by 25.9% in the first quarter. National Pension Service now owns 347,633 shares of the company’s stock valued at $37,238,000 after buying an additional 71,449 shares during the period. Finally, Vanguard Group Inc. lifted its stake in DocuSign by 20.3% in the first quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock valued at $1,854,127,000 after buying an additional 2,917,683 shares during the period. Hedge funds and other institutional investors own 76.03% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on DOCU. Citigroup dropped their target price on DocuSign from $80.00 to $73.00 in a research report on Wednesday, June 7th. Piper Sandler boosted their price target on DocuSign from $60.00 to $61.00 in a research note on Friday, June 9th. Bank of America lifted their price objective on DocuSign from $68.00 to $72.00 in a report on Friday, June 9th. JPMorgan Chase & Co. boosted their price objective on DocuSign from $48.00 to $50.00 in a research report on Friday, June 9th. Finally, 22nd Century Group reiterated a “maintains” rating on shares of DocuSign in a research report on Friday, June 9th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $62.93.
DocuSign Price Performance
Shares of NASDAQ DOCU opened at $51.34 on Thursday. DocuSign, Inc. has a 12 month low of $39.57 and a 12 month high of $77.24. The company has a 50-day simple moving average of $53.27 and a 200-day simple moving average of $55.63. The company has a market cap of $10.39 billion, a PE ratio of -146.68, a price-to-earnings-growth ratio of 12.13 and a beta of 0.91.
DocuSign (NASDAQ:DOCU – Get Free Report) last issued its earnings results on Thursday, June 8th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.16. DocuSign had a negative net margin of 2.69% and a positive return on equity of 3.70%. The company had revenue of $661.39 million for the quarter, compared to analysts’ expectations of $641.69 million. During the same period in the prior year, the company earned ($0.12) earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year. On average, analysts anticipate that DocuSign, Inc. will post 0.33 EPS for the current year.
Insider Activity at DocuSign
In related news, Director Enrique T. Salem sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $50.02, for a total value of $125,050.00. Following the completion of the sale, the director now owns 156,140 shares of the company’s stock, valued at $7,810,122.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other DocuSign news, insider Stephen Shute sold 100,315 shares of the firm’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $49.20, for a total value of $4,935,498.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Enrique T. Salem sold 2,500 shares of the firm’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $50.02, for a total transaction of $125,050.00. Following the sale, the director now owns 156,140 shares of the company’s stock, valued at approximately $7,810,122.80. The disclosure for this sale can be found here. 17.80% of the stock is owned by corporate insiders.
DocuSign Company Profile
DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.
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