DocuSign, Inc. (NASDAQ:DOCU) Shares Acquired by abrdn plc

abrdn plc grew its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 67.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 56,172 shares of the company’s stock after purchasing an additional 22,689 shares during the quarter. abrdn plc’s holdings in DocuSign were worth $3,488,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. J.W. Cole Advisors Inc. raised its stake in DocuSign by 2.0% in the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock valued at $493,000 after buying an additional 155 shares during the last quarter. Resonant Capital Advisors LLC raised its position in shares of DocuSign by 0.9% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock valued at $1,088,000 after purchasing an additional 157 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in DocuSign by 6.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock worth $187,000 after purchasing an additional 172 shares in the last quarter. Dakota Wealth Management grew its position in DocuSign by 0.8% during the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after purchasing an additional 181 shares during the last quarter. Finally, Sovereign Financial Group Inc. increased its stake in DocuSign by 4.3% during the 3rd quarter. Sovereign Financial Group Inc. now owns 4,487 shares of the company’s stock valued at $279,000 after purchasing an additional 184 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JMP Securities reiterated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. Robert W. Baird lifted their price target on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Royal Bank of Canada increased their price objective on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Finally, Bank of America increased their price target on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.40.

Insider Activity at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total value of $456,470.25. Following the sale, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at approximately $6,038,584.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total transaction of $456,470.25. Following the completion of the transaction, the chief executive officer now directly owns 102,193 shares of the company’s stock, valued at $6,038,584.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now directly owns 7,202 shares in the company, valued at $407,345.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,794 shares of company stock worth $3,729,676 in the last 90 days. Corporate insiders own 1.66% of the company’s stock.

DocuSign Price Performance

Shares of NASDAQ DOCU opened at $71.11 on Monday. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 7.34 and a beta of 0.90. The firm’s 50 day simple moving average is $63.16 and its 200-day simple moving average is $58.04. DocuSign, Inc. has a 12 month low of $39.21 and a 12 month high of $73.80.

DocuSign (NASDAQ:DOCU) last released its quarterly 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 company had revenue of $736.03 million for 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 was up 7.0% on a year-over-year basis. During the same quarter last year, the business earned $0.09 earnings per share. Analysts anticipate that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

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.