Massachusetts Financial Services Co. MA Acquires 447 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Massachusetts Financial Services Co. MA grew its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,391 shares of the company’s stock after buying 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV raised its holdings in DocuSign by 5,000.0% in the 2nd 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. increased its position in shares of DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after buying an additional 564 shares during the period. Reston Wealth Management LLC bought a new position in DocuSign in the third quarter worth about $47,000. nVerses Capital LLC bought a new position in DocuSign in the second quarter worth about $48,000. Finally, Quarry LP purchased a new stake in DocuSign in the second quarter worth about $53,000. Institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 14,799 shares of the 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 transaction, the insider now directly owns 70,748 shares of the company’s stock, valued at $3,923,684.08. This represents a 17.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total value of $508,725.00. Following the completion of the transaction, the insider now owns 43,301 shares in the company, valued at approximately $2,937,106.83. This trade represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is owned by insiders.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $80.38 on Thursday. The company has a market cap of $16.31 billion, a PE ratio of 16.96, a P/E/G ratio of 9.05 and a beta of 0.90. The firm’s 50 day moving average price is $71.11 and its 200-day moving average price is $60.79. DocuSign, Inc. has a 52-week low of $42.13 and a 52-week high of $86.75.

DocuSign (NASDAQ:DOCU) last issued its 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. The business had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $0.09 EPS. On average, analysts forecast that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Robert W. Baird upped their target price on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. JMP Securities increased their price objective on DocuSign from $84.00 to $108.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Citigroup raised their price objective on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada upped their target price on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Friday, September 6th. Finally, Bank of America lifted their price target on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $65.80.

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.