Truist Financial Corp boosted its position in DocuSign, Inc. (NASDAQ:DOCU) by 42.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,147 shares of the company’s stock after purchasing an additional 8,957 shares during the quarter. Truist Financial Corp’s holdings in DocuSign were worth $6,702,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in DocuSign by 45.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,187,468 shares of the company’s stock valued at $486,274,000 after purchasing an additional 680,641 shares during the period. Jennison Associates LLC boosted its stake in DocuSign by 36.1% in the 4th quarter. Jennison Associates LLC now owns 1,927,328 shares of the company’s stock valued at $428,445,000 after purchasing an additional 511,088 shares during the period. Tiger Global Management LLC boosted its stake in DocuSign by 491.0% in the 4th quarter. Tiger Global Management LLC now owns 1,773,000 shares of the company’s stock valued at $394,138,000 after purchasing an additional 1,473,000 shares during the period. Nikko Asset Management Americas Inc. boosted its stake in DocuSign by 93.2% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,447,976 shares of the company’s stock valued at $321,885,000 after purchasing an additional 698,316 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in DocuSign by 60.9% in the 4th quarter. Nuveen Asset Management LLC now owns 1,328,939 shares of the company’s stock valued at $295,423,000 after acquiring an additional 502,813 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.
In other DocuSign news, CRO Loren Alhadeff sold 6,652 shares of the company’s stock in a transaction dated Wednesday, March 17th. The stock was sold at an average price of $209.81, for a total value of $1,395,656.12. Following the sale, the executive now owns 91,710 shares in the company, valued at approximately $19,241,675.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Scott V. Olrich sold 5,800 shares of the company’s stock in a transaction dated Wednesday, February 10th. The shares were sold at an average price of $256.69, for a total value of $1,488,802.00. Following the completion of the sale, the chief operating officer now owns 208,346 shares in the company, valued at approximately $53,480,334.74. The disclosure for this sale can be found here. Insiders sold a total of 379,731 shares of company stock worth $87,272,153 in the last quarter. Corporate insiders own 5.06% of the company’s stock.
DocuSign (NASDAQ:DOCU) last issued its earnings results on Wednesday, March 10th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.15. DocuSign had a negative return on equity of 30.14% and a negative net margin of 16.83%. The business had revenue of $430.89 million during the quarter, compared to analysts’ expectations of $407.95 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The business’s revenue for the quarter was up 56.7% compared to the same quarter last year. On average, equities research analysts expect that DocuSign, Inc. will post -0.68 EPS for the current year.
DOCU has been the subject of several analyst reports. Evercore ISI raised DocuSign from an “in-line” rating to an “outperform” rating and set a $285.00 price objective for the company in a report on Thursday, March 18th. Piper Sandler raised DocuSign from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $225.00 to $300.00 in a report on Monday, January 4th. JPMorgan Chase & Co. cut DocuSign from an “overweight” rating to a “neutral” rating and set a $271.00 price objective for the company. in a report on Wednesday, December 9th. Daiwa Capital Markets initiated coverage on DocuSign in a report on Monday, March 29th. They issued a “buy” rating and a $239.00 price objective for the company. Finally, Wells Fargo & Company dropped their price objective on DocuSign from $230.00 to $210.00 and set an “equal weight” rating for the company in a report on Wednesday, March 31st. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. DocuSign currently has a consensus rating of “Buy” and a consensus target price of $272.55.
DocuSign, Inc provides cloud based software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It also offers DocuSign CLM, which automates workflows across the entire agreement process; Intelligent Insights that use artificial intelligence to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; and Negotiate for Salesforce that supports for approvals, document comparisons, and version control.
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