Massachusetts Financial Services Co. MA Buys 205,051 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Massachusetts Financial Services Co. MA increased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 633.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 237,442 shares of the company's stock after acquiring an additional 205,051 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.12% of DocuSign worth $21,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in shares of DocuSign by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company's stock worth $335,147,000 after purchasing an additional 249,179 shares during the last quarter. HighPoint Advisor Group LLC purchased a new stake in DocuSign during the 4th quarter valued at $229,000. B. Metzler seel. Sohn & Co. AG grew its holdings in DocuSign by 72.7% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 8,677 shares of the company's stock worth $780,000 after acquiring an additional 3,652 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of DocuSign by 70.4% in the fourth quarter. Alliancebernstein L.P. now owns 378,780 shares of the company's stock valued at $34,067,000 after acquiring an additional 156,518 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in shares of DocuSign by 8.9% during the fourth quarter. Meeder Asset Management Inc. now owns 18,804 shares of the company's stock valued at $1,691,000 after acquiring an additional 1,539 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

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Insider Transactions at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, the chief financial officer now owns 77,851 shares of the company's stock, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total value of $609,825.00. Following the completion of the transaction, the insider now owns 45,875 shares of the company's stock, valued at $3,730,096.25. This represents a 14.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,851 shares of company stock valued at $3,998,719 in the last quarter. 1.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. William Blair raised DocuSign from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Bank of America reduced their target price on DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. JPMorgan Chase & Co. raised DocuSign from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. Jefferies Financial Group reduced their price objective on shares of DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, UBS Group dropped their target price on shares of DocuSign from $100.00 to $90.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $93.85.

DocuSign Stock Up 1.5 %

Shares of NASDAQ DOCU traded up $1.13 on Friday, reaching $74.35. 2,008,138 shares of the company's stock traded hands, compared to its average volume of 2,726,737. The business's 50 day simple moving average is $82.95 and its two-hundred day simple moving average is $82.76. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The company has a market cap of $15.06 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20.

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

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.