2,481,608 Shares in DocuSign, Inc. (NASDAQ:DOCU) Purchased by Norges Bank

Norges Bank purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,481,608 shares of the company's stock, valued at approximately $223,196,000. Norges Bank owned approximately 1.23% of DocuSign as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in DOCU. The Manufacturers Life Insurance Company grew its holdings in DocuSign by 2.4% in the third quarter. The Manufacturers Life Insurance Company now owns 53,508 shares of the company's stock worth $3,322,000 after purchasing an additional 1,248 shares during the period. FMR LLC lifted its stake in shares of DocuSign by 16.8% in the 3rd quarter. FMR LLC now owns 2,192,885 shares of the company's stock worth $136,156,000 after purchasing an additional 315,073 shares during the period. Townsquare Capital LLC boosted its stake in shares of DocuSign by 3.7% during the 3rd quarter. Townsquare Capital LLC now owns 5,103 shares of the company's stock worth $317,000 after acquiring an additional 183 shares during the last quarter. Freedom Investment Management Inc. purchased a new stake in DocuSign in the third quarter worth about $201,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of DocuSign by 14.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company's stock valued at $103,030,000 after purchasing an additional 208,813 shares during the period. 77.64% of the stock is owned by institutional investors.

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DocuSign Trading Down 6.0 %

Shares of DocuSign stock traded down $5.02 during mid-day trading on Thursday, hitting $78.38. 1,153,824 shares of the stock were exchanged, compared to its average volume of 2,685,009. The stock has a market capitalization of $15.87 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The company has a 50-day simple moving average of $86.67 and a 200 day simple moving average of $81.91. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same quarter in the previous year, the business posted $0.76 EPS. The business's quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on DOCU shares. JMP Securities reissued a "market outperform" rating and set a $124.00 price objective on shares of DocuSign in a report on Tuesday, January 7th. HSBC reaffirmed a "reduce" rating on shares of DocuSign in a research note on Friday, December 6th. Wedbush reiterated a "neutral" rating and set a $100.00 target price on shares of DocuSign in a research report on Friday, March 14th. William Blair raised shares of DocuSign from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Finally, Hsbc Global Res raised shares of DocuSign to a "moderate sell" rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $95.83.

Insider Buying and Selling

In other DocuSign news, insider Robert Chatwani sold 15,706 shares of DocuSign stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the transaction, the insider now directly owns 76,842 shares in the company, valued at approximately $6,392,485.98. The trade was a 16.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of DocuSign stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the sale, the chief financial officer now directly owns 93,960 shares of the company's stock, valued at $7,817,472. This trade represents a 14.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,851 shares of company stock valued at $4,911,319 in the last quarter. Company insiders own 1.66% of the company's stock.

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.