Massachusetts Financial Services Co. MA Raises Position in DocuSign, Inc. (NASDAQ:DOCU)

Massachusetts Financial Services Co. MA boosted its position in DocuSign, Inc. (NASDAQ:DOCU) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,391 shares of the company’s stock after purchasing an additional 447 shares during the period. Massachusetts Financial Services Co. MA’s holdings in DocuSign were worth $2,011,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of DOCU. Massmutual Trust Co. FSB ADV lifted its stake in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after buying an additional 500 shares in the last quarter. Mather Group LLC. raised its holdings in DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after acquiring an additional 564 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of DocuSign during the third quarter worth $47,000. nVerses Capital LLC bought a new position in shares of DocuSign in the second quarter worth $48,000. Finally, Quarry LP purchased a new position in shares of DocuSign in the second quarter valued at $53,000. 77.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DOCU has been the topic of a number of recent research reports. 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. JMP Securities raised their price objective on shares of DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Bank of America upped their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company raised their price target on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, DocuSign has a consensus rating of “Hold” and a consensus target price of $65.80.

DocuSign Trading Down 5.8 %

DOCU opened at $80.38 on Thursday. The stock has a market capitalization of $16.31 billion, a P/E ratio of 16.96, a PEG ratio of 9.05 and a beta of 0.90. The stock has a 50-day moving average price of $71.11 and a 200-day moving average price of $60.79. DocuSign, Inc. has a 12-month low of $42.13 and a 12-month high of $86.75.

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

Insider Buying and Selling

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the transaction, the insider now directly owns 70,748 shares of the company’s stock, valued at $3,923,684.08. The trade was a 17.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 7,764 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the sale, the chief executive officer now owns 107,825 shares of the company’s stock, valued at $7,542,358.75. The trade was a 6.72 % 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 worth $4,272,768 in the last 90 days. 1.66% of the stock is owned by company 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.