DocuSign, Inc. (NASDAQ:DOCU) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS raised its stake in DocuSign, Inc. (NASDAQ:DOCU) by 12.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,620 shares of the company’s stock after acquiring an additional 4,020 shares during the period. DnB Asset Management AS’s holdings in DocuSign were worth $3,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in DOCU. Kestra Investment Management LLC purchased a new stake in shares of DocuSign in the 4th quarter valued at about $30,000. First Horizon Advisors Inc. grew its stake in DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after buying an additional 201 shares during the last quarter. Modus Advisors LLC acquired a new position in DocuSign during the fourth quarter worth approximately $36,000. Itau Unibanco Holding S.A. purchased a new stake in DocuSign in the third quarter valued at approximately $28,000. Finally, Avion Wealth boosted its holdings in shares of DocuSign by 309.2% in the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after acquiring an additional 368 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wedbush reiterated a “neutral” rating and issued a $100.00 price target on shares of DocuSign in a research report on Friday, March 14th. UBS Group reduced their target price on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Morgan Stanley increased their target price on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. Finally, Wells Fargo & Company increased their price objective on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research report on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $95.83.

Insider Activity

In other DocuSign news, insider Robert Chatwani sold 15,706 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total value of $1,306,582.14. Following the sale, the insider now owns 76,842 shares of the company’s stock, valued at approximately $6,392,485.98. This represents a 16.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the transaction, the director now owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. This represents a 6.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 97,851 shares of company stock worth $8,579,369. Company insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

NASDAQ:DOCU opened at $81.40 on Tuesday. The stock has a market capitalization of $16.48 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The stock has a fifty day moving average price of $87.01 and a two-hundred day moving average price of $81.71.

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

DocuSign 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.