KBC Group NV Boosts Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

KBC Group NV increased its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 209.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,156,874 shares of the company’s stock after buying an additional 783,419 shares during the period. KBC Group NV’s holdings in DocuSign were worth $71,830,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $69.95, for a total value of $543,091.80. Following the sale, the chief executive officer now owns 107,825 shares of the company’s stock, valued at $7,542,358.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Allan C. Thygesen sold 7,764 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 107,825 shares in the company, valued at approximately $7,542,358.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total transaction of $820,752.54. Following the sale, the insider now directly owns 70,748 shares of the company’s stock, valued at approximately $3,923,684.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,558 shares of company stock valued at $4,272,768 in the last three months. 1.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

DocuSign Stock Performance

NASDAQ DOCU opened at $81.81 on Thursday. The firm has a market cap of $16.60 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 8.73 and a beta of 0.90. The firm has a 50 day simple moving average of $65.69 and a 200-day simple moving average of $59.02. DocuSign, Inc. has a one year low of $42.08 and a one year high of $83.68.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter last year, the company posted $0.09 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. Equities analysts predict that DocuSign, Inc. will post 1.01 EPS for the current fiscal year.

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.