Thrivent Financial for Lutherans Has $208.49 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Thrivent Financial for Lutherans lifted its stake in DocuSign, Inc. (NASDAQ:DOCU) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,318,137 shares of the company’s stock after acquiring an additional 40,825 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.15% of DocuSign worth $208,494,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Toronto Dominion Bank grew its stake in DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after purchasing an additional 6,081 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of DocuSign by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after buying an additional 16,014 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of DocuSign by 39.5% in the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after buying an additional 57,104 shares in the last quarter. Rhumbline Advisers increased its holdings in DocuSign by 118.8% in the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock worth $54,695,000 after buying an additional 330,136 shares during the last quarter. Finally, KBC Group NV raised its position in DocuSign by 32.7% during the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after acquiring an additional 378,233 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on DOCU. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday. Wedbush reissued a “neutral” rating and set a $100.00 target price on shares of DocuSign in a research report on Friday. William Blair raised DocuSign from a “market perform” rating to an “outperform” rating in a research report on Monday. UBS Group lowered their price objective on DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $70.00 to $75.00 in a report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, DocuSign has a consensus rating of “Hold” and a consensus price target of $95.58.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares of the company’s stock, valued at $6,765,251.90. The trade was a 9.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the transaction, the director now directly owns 8,270 shares of the company’s stock, valued at $722,880.70. The trade was a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,422 shares of company stock worth $8,903,395. 1.66% of the stock is currently owned by company insiders.

DocuSign Trading Down 2.7 %

Shares of DOCU stock opened at $83.43 on Tuesday. The firm has a market capitalization of $16.85 billion, a P/E ratio of 17.20, a price-to-earnings-growth 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 firm’s fifty day simple moving average is $87.82 and its 200 day simple moving average is $79.69.

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