Massachusetts Financial Services Co. MA Acquires New Stake in DocuSign, Inc. (NASDAQ:DOCU)

Massachusetts Financial Services Co. MA bought a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) in the second quarter, Holdings Channel reports. The firm bought 31,944 shares of the company’s stock, valued at approximately $1,709,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its stake in shares of DocuSign by 5,000.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the period. Mather Group LLC. grew its stake in shares of DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after acquiring an additional 564 shares in the last quarter. Register Financial Advisors LLC acquired a new position in shares of DocuSign in the first quarter worth $37,000. ICA Group Wealth Management LLC purchased a new stake in shares of DocuSign during the fourth quarter worth $39,000. Finally, nVerses Capital LLC acquired a new stake in shares of DocuSign in the second quarter valued at $48,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on DOCU. Wells Fargo & Company boosted their target price on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Bank of America upped their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Piper Sandler decreased their price target on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Finally, Citigroup lifted their price objective on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, DocuSign presently has an average rating of “Hold” and a consensus target price of $61.45.

Insider Buying and Selling at DocuSign

In related news, insider Stephen Shute sold 35,300 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $52.87, for a total transaction of $1,866,311.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total transaction of $456,470.25. Following the transaction, the chief executive officer now directly owns 102,193 shares in the company, valued at $6,038,584.37. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Shute sold 35,300 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $52.87, for a total transaction of $1,866,311.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 446,065 shares of company stock worth $23,777,163. 1.66% of the stock is owned by company insiders.

DocuSign Stock Up 0.1 %

NASDAQ:DOCU opened at $57.97 on Monday. The company has a market capitalization of $11.87 billion, a PE ratio of 111.48, a P/E/G ratio of 5.99 and a beta of 0.93. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76. The stock’s 50 day moving average price is $55.87 and its 200 day moving average price is $56.23.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same period last year, the firm posted $0.09 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that DocuSign, Inc. will post 0.99 EPS for the current fiscal 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.