DocuSign, Inc. (NASDAQ:DOCU) Stake Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 2,194.6% in the 3rd quarter, Holdings Channel reports. The firm owned 105,688 shares of the company’s stock after purchasing an additional 101,082 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in DocuSign were worth $6,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Diversified Trust Co grew its position in shares of DocuSign by 80.2% during the 1st quarter. Diversified Trust Co now owns 11,154 shares of the company’s stock valued at $664,000 after buying an additional 4,963 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of DocuSign during the first quarter valued at approximately $6,741,000. Quattro Financial Advisors LLC raised its position in shares of DocuSign by 16,849.2% during the 1st quarter. Quattro Financial Advisors LLC now owns 10,000 shares of the company’s stock worth $596,000 after purchasing an additional 9,941 shares during the period. SeaCrest Wealth Management LLC lifted its holdings in shares of DocuSign by 2.2% in the 1st quarter. SeaCrest Wealth Management LLC now owns 11,327 shares of the company’s stock worth $675,000 after purchasing an additional 240 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of DocuSign by 0.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 473,219 shares of the company’s stock worth $28,180,000 after purchasing an additional 3,038 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Bank of America increased their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a research report on Thursday, September 5th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Robert W. Baird lifted their price target on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Finally, Citigroup increased their price objective on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.40.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $68.99 on Monday. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $73.80. The firm has a market cap of $14.12 billion, a P/E ratio of 132.67, a PEG ratio of 7.33 and a beta of 0.92. The stock has a fifty day moving average price of $61.87 and a two-hundred day moving average price of $57.64.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same period in the previous year, the company earned $0.09 earnings per share. DocuSign’s revenue was up 7.0% compared to the same quarter last year. On average, research analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 9,552 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $68.80, for a total transaction of $657,177.60. Following the completion of the sale, the chief financial officer now directly owns 78,265 shares in the company, valued at approximately $5,384,632. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $67.83, for a total transaction of $508,725.00. Following the sale, the insider now owns 43,301 shares in the company, valued at $2,937,106.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $68.80, for a total transaction of $657,177.60. Following the completion of the sale, the chief financial officer now owns 78,265 shares of the company’s stock, valued at approximately $5,384,632. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 427,554 shares of company stock worth $23,129,150 in the last ninety days. 1.66% of the stock is currently owned by corporate insiders.

About DocuSign

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.