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

Thrivent Financial for Lutherans boosted its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 5.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,277,312 shares of the company’s stock after acquiring an additional 112,919 shares during the period. Thrivent Financial for Lutherans owned 1.12% of DocuSign worth $141,398,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its position in shares of DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Mather Group LLC. grew its stake in DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares during the last quarter. Reston Wealth Management LLC acquired a new position in DocuSign during the 3rd quarter valued at about $47,000. nVerses Capital LLC acquired a new position in DocuSign during the 2nd quarter valued at about $48,000. Finally, Quarry LP acquired a new stake in DocuSign in the second quarter worth about $53,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DOCU shares. JMP Securities restated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a report on Thursday, September 5th. Wells Fargo & Company raised their price target on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Royal Bank of Canada boosted their price objective on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Robert W. Baird upped their target price on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, Needham & Company LLC reaffirmed 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 issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, DocuSign presently has a consensus rating of “Hold” and a consensus target price of $63.40.

DocuSign Stock Performance

NASDAQ DOCU opened at $79.11 on Friday. The firm has a market capitalization of $16.06 billion, a P/E ratio of 16.69, a PEG ratio of 8.37 and a beta of 0.90. The stock has a 50-day simple moving average of $67.05 and a two-hundred day simple moving average of $59.50. DocuSign, Inc. has a fifty-two week low of $42.12 and a fifty-two week high of $83.68.

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

Insider Activity

In related 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 transaction of $543,091.80. Following the sale, the chief executive officer now owns 107,825 shares in the company, valued at approximately $7,542,358.75. This trade represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the transaction, the director now owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,558 shares of company stock valued at $4,272,768 in the last three months. 1.66% of the stock is currently owned by corporate insiders.

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.