Docusign Inc. $DOCU Stock Holdings Increased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of Docusign Inc. (NASDAQ:DOCUFree Report) by 4.2% in the first quarter, HoldingsChannel reports. The fund owned 449,728 shares of the company’s stock after buying an additional 18,253 shares during the period. Principal Financial Group Inc.’s holdings in Docusign were worth $21,322,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new stake in Docusign in the fourth quarter worth about $25,000. Modus Advisors LLC bought a new position in Docusign in the 4th quarter valued at about $27,000. Torren Management LLC acquired a new position in Docusign during the 4th quarter valued at about $28,000. True Wealth Design LLC increased its stake in Docusign by 105.2% during the 4th quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after buying an additional 222 shares during the period. Finally, Aventura Private Wealth LLC bought a new stake in shares of Docusign during the 4th quarter worth about $30,000. Institutional investors own 77.64% of the company’s stock.

Docusign Trading Down 3.0%

NASDAQ DOCU opened at $50.74 on Wednesday. The stock’s 50-day moving average price is $47.69 and its two-hundred day moving average price is $49.14. The company has a market cap of $9.69 billion, a PE ratio of 32.95, a PEG ratio of 1.54 and a beta of 0.90. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $86.65.

Docusign (NASDAQ:DOCUGet Free Report) last announced its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.99 by $0.10. The company had revenue of $830.24 million during the quarter, compared to analysts’ expectations of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the company posted $0.90 earnings per share. Research analysts forecast that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Insider Transactions at Docusign

In other news, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $45.55, for a total value of $683,250.00. Following the completion of the sale, the chief financial officer owned 141,429 shares of the company’s stock, valued at $6,442,090.95. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total value of $273,240.00. Following the transaction, the executive owned 89,972 shares in the company, valued at $4,097,324.88. This represents a 6.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 76,695 shares of company stock worth $3,476,002. 0.59% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

DOCU has been the subject of a number of research analyst reports. Wedbush reduced their price target on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. Wall Street Zen lowered shares of Docusign from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Needham & Company LLC reissued a “hold” rating on shares of Docusign in a report on Friday, June 5th. Jefferies Financial Group upped their target price on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, June 5th. Finally, BTIG Research lowered their price target on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.27.

Read Our Latest Report on Docusign

Docusign Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding DOCU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Docusign Inc. (NASDAQ:DOCUFree Report).

Institutional Ownership by Quarter for Docusign (NASDAQ:DOCU)

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