Truist Financial Corp Boosts Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Truist Financial Corp boosted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 18.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,138 shares of the company’s stock after purchasing an additional 1,399 shares during the period. Truist Financial Corp’s holdings in DocuSign were worth $489,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV raised its position in 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 acquiring an additional 500 shares during the last quarter. Mather Group LLC. grew its stake in DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares during the period. Register Financial Advisors LLC acquired a new position in shares of DocuSign during the first quarter worth $37,000. nVerses Capital LLC acquired a new position in shares of DocuSign during the second quarter worth $48,000. Finally, Quarry LP acquired a new position in shares of DocuSign during the second quarter worth $53,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DOCU. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research report on Thursday, September 5th. Wells Fargo & Company upped 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. Royal Bank of Canada upped their price objective on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Finally, Robert W. Baird increased their price target on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.40.

Insider Transactions at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $54.89, for a total value of $424,025.25. Following the completion of the sale, the chief executive officer now directly owns 109,918 shares in the company, valued at approximately $6,033,399.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the sale, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $54.89, for a total value of $424,025.25. Following the completion of the transaction, the chief executive officer now owns 109,918 shares in the company, valued at $6,033,399.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 418,002 shares of company stock worth $22,471,973 over the last ninety days. 1.66% of the stock is owned by insiders.

DocuSign Trading Up 3.7 %

DOCU opened at $72.60 on Thursday. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $72.64. The stock’s fifty day simple moving average is $59.51 and its 200 day simple moving average is $57.06. The stock has a market cap of $14.86 billion, a PE ratio of 139.62, a price-to-earnings-growth ratio of 7.33 and a beta of 0.92.

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