MetLife Investment Management LLC Sells 251 Shares of DocuSign, Inc. (NASDAQ:DOCU)

MetLife Investment Management LLC decreased its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 1.9% during the third quarter, Holdings Channel.com reports. The firm owned 12,807 shares of the company’s stock after selling 251 shares during the period. MetLife Investment Management LLC’s holdings in DocuSign were worth $795,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Thrivent Financial for Lutherans purchased a new stake in shares of DocuSign during the 2nd quarter valued at about $115,795,000. Pacer Advisors Inc. raised 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 valued at $188,318,000 after purchasing an additional 1,541,816 shares during the period. KBC Group NV lifted its stake in shares of DocuSign by 209.8% in the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after purchasing an additional 783,419 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of 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. Finally, Skandinaviska Enskilda Banken AB publ increased its position in shares of DocuSign by 151.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock valued at $46,324,000 after purchasing an additional 521,292 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

DocuSign Stock Up 27.9 %

Shares of NASDAQ DOCU opened at $106.99 on Friday. DocuSign, Inc. has a twelve month low of $44.34 and a twelve month high of $107.86. The firm has a market cap of $21.72 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 8.33 and a beta of 0.92. The business has a fifty day simple moving average of $74.66 and a two-hundred day simple moving average of $62.00.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. On average, research analysts expect that DocuSign, Inc. will post 1.03 earnings per share for the current year.

Analyst Ratings Changes

DOCU has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday. JPMorgan Chase & Co. upped their price target on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday. Robert W. Baird raised their price objective on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday. Bank of America upped their target price on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, HSBC reissued a “reduce” rating on shares of DocuSign in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $92.45.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the transaction, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. This trade represents a 6.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the sale, the insider now directly owns 70,748 shares in the company, valued at approximately $3,923,684.08. The trade was a 17.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,596 shares of company stock worth $4,441,529. 1.66% of the stock is currently owned by corporate insiders.

DocuSign 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.