KBC Group NV Has $71.83 Million Stake in DocuSign, Inc. (NASDAQ:DOCU)

KBC Group NV lifted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 209.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,156,874 shares of the company's stock after purchasing an additional 783,419 shares during the quarter. KBC Group NV owned about 0.57% of DocuSign worth $71,830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Inspire Investing LLC bought a new stake in shares of DocuSign during the 3rd quarter worth about $911,000. Comerica Bank raised its holdings in DocuSign by 228.8% during the first quarter. Comerica Bank now owns 28,901 shares of the company's stock worth $1,721,000 after purchasing an additional 20,110 shares in the last quarter. International Assets Investment Management LLC raised its holdings in DocuSign by 5,660.8% during the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company's stock worth $27,252,000 after purchasing an additional 431,295 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in DocuSign by 7.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company's stock worth $80,501,000 after purchasing an additional 85,987 shares during the period. Finally, PGGM Investments boosted its stake in DocuSign by 36.7% during the 2nd quarter. PGGM Investments now owns 49,812 shares of the company's stock valued at $2,665,000 after purchasing an additional 13,379 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

DocuSign Stock Down 2.7 %

Shares of DOCU traded down $2.24 during mid-day trading on Thursday, reaching $79.57. The company's stock had a trading volume of 952,606 shares, compared to its average volume of 2,878,681. The company has a market cap of $16.15 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 8.73 and a beta of 0.90. The business has a fifty day moving average of $66.18 and a 200 day moving average of $59.18. DocuSign, Inc. has a 1 year low of $42.12 and a 1 year high of $83.68.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. During the same period in the prior year, the business earned $0.09 EPS. The business's revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of research reports. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a research note on Friday, September 6th. Royal Bank of Canada raised their price objective on shares of DocuSign from $52.00 to $57.00 and gave the company a "sector perform" rating in a research report on Friday, September 6th. Bank of America boosted their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, September 6th. Wells Fargo & Company raised their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an "underweight" rating in a report on Friday, September 6th. Finally, Citigroup lifted their price target 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 research 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.com, DocuSign has a consensus rating of "Hold" and a consensus price target of $63.40.

Insider Buying and Selling

In other DocuSign news, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the sale, the director now owns 7,202 shares in the company, valued at $407,345.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Allan C. Thygesen sold 7,725 shares of DocuSign stock in a transaction dated 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 sale, the chief executive officer now directly owns 102,193 shares in the company, valued at $6,038,584.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the transaction, the director now 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. Over the last three months, insiders sold 69,558 shares of company stock worth $4,272,768. 1.66% of the stock is owned by company insiders.

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.