Principal Financial Group Inc. Has $1.09 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Principal Financial Group Inc. lessened its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,488 shares of the company’s stock after selling 219 shares during the quarter. Principal Financial Group Inc.’s holdings in DocuSign were worth $1,086,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on DOCU. Wells Fargo & Company increased their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. JMP Securities lifted their target price on shares of DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research note on Friday. Citigroup increased their price target on DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Bank of America lifted their price objective on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, Robert W. Baird increased 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, DocuSign currently has an average rating of “Hold” and a consensus target price of $65.80.

DocuSign Stock Up 3.6 %

DocuSign stock opened at $83.03 on Friday. The business’s 50-day simple moving average is $69.47 and its 200 day simple moving average is $60.25. The stock has a market cap of $16.85 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 8.48 and a beta of 0.90. DocuSign, Inc. has a 12-month low of $42.13 and a 12-month high of $83.68.

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

Insider Buying and Selling at DocuSign

In other DocuSign 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 owns 102,193 shares of the company’s stock, valued at $6,038,584.37. This represents a 7.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $68.80, for a total value of $657,177.60. Following the completion of the transaction, the chief financial officer now owns 78,265 shares of the company’s stock, valued at approximately $5,384,632. This represents a 10.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is currently owned by insiders.

About DocuSign

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.