Thrivent Financial for Lutherans cut its stake in shares of Docusign Inc. (NASDAQ:DOCU – Free Report) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,174,594 shares of the company’s stock after selling 177,120 shares during the period. Thrivent Financial for Lutherans’ holdings in Docusign were worth $80,343,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new position in Docusign during the fourth quarter valued at approximately $25,000. Torren Management LLC acquired a new position in Docusign during the fourth quarter valued at approximately $28,000. Aventura Private Wealth LLC acquired a new position in Docusign during the fourth quarter valued at approximately $30,000. True Wealth Design LLC boosted its position in Docusign by 105.2% during the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after purchasing an additional 222 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Docusign during the fourth quarter valued at approximately $44,000. 77.64% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
DOCU has been the subject of several recent research reports. Morgan Stanley reduced their price target on Docusign from $90.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research report on Tuesday, March 10th. UBS Group decreased their target price on Docusign from $75.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Wells Fargo & Company dropped their price target on Docusign from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 18th. Finally, BTIG Research restated a “buy” rating and issued a $70.00 price target on shares of Docusign in a research note on Wednesday, March 18th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Docusign presently has an average rating of “Hold” and a consensus target price of $61.40.
Docusign Trading Up 4.9%
DOCU opened at $47.71 on Friday. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $94.67. The stock’s fifty day simple moving average is $46.89 and its 200 day simple moving average is $56.22. The stock has a market cap of $9.27 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 1.74 and a beta of 0.88.
Docusign (NASDAQ:DOCU – Get Free Report) last posted its quarterly earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $836.86 million for the quarter, compared to analysts’ expectations of $828.23 million. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 EPS. Equities analysts forecast that Docusign Inc. will post 1.76 earnings per share for the current year.
Docusign announced that its board has authorized a stock buyback program on Tuesday, March 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 21% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
Insider Buying and Selling at Docusign
In related news, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total transaction of $281,040.00. Following the completion of the sale, the executive directly owned 79,233 shares of the company’s stock, valued at approximately $3,711,273.72. This trade represents a 7.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 16,696 shares of Docusign stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $48.10, for a total value of $803,077.60. Following the sale, the insider directly owned 72,458 shares of the company’s stock, valued at approximately $3,485,229.80. The trade was a 18.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 64,673 shares of company stock worth $3,077,699 in the last 90 days. Company insiders own 1.01% of the company’s stock.
Docusign Company Profile
DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.
DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.
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