Thrivent Financial for Lutherans Raises Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Thrivent Financial for Lutherans boosted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 5.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,277,312 shares of the company’s stock after acquiring an additional 112,919 shares during the period. Thrivent Financial for Lutherans’ holdings in DocuSign were worth $141,398,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DOCU. American Century Companies Inc. increased its stake in shares of DocuSign by 1.9% during the second quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock worth $219,318,000 after purchasing an additional 75,026 shares in the last quarter. Renaissance Technologies LLC increased its stake in DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after buying an additional 576,414 shares in the last quarter. Pacer Advisors Inc. increased its stake in DocuSign by 77.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after buying an additional 1,541,816 shares in the last quarter. Jericho Capital Asset Management L.P. raised its holdings in shares of DocuSign by 316.6% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock valued at $203,536,000 after acquiring an additional 2,597,489 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of DocuSign by 4.1% in the second quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company’s stock valued at $156,265,000 after acquiring an additional 115,616 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the transaction, the chief executive officer now directly owns 102,193 shares in the company, valued at approximately $6,038,584.37. This represents a 7.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the transaction, the director now directly owns 7,202 shares of the company’s stock, valued at $407,345.12. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,558 shares of company stock valued at $4,272,768 in the last quarter. Insiders own 1.66% of the company’s stock.

DocuSign Price Performance

NASDAQ:DOCU opened at $79.11 on Friday. The company’s 50-day moving average is $67.05 and its two-hundred day moving average is $59.50. DocuSign, Inc. has a 1-year low of $42.12 and a 1-year high of $83.68. The firm has a market capitalization of $16.06 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 8.37 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The firm had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. As a group, equities analysts anticipate that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wells Fargo & Company boosted their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Royal Bank of Canada upped their target price on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. JMP Securities reissued a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a research note on Thursday, September 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Finally, Bank of America increased their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $63.40.

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.