abrdn plc Purchases 22,689 Shares of DocuSign, Inc. (NASDAQ:DOCU)

abrdn plc boosted its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 67.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,172 shares of the company's stock after acquiring an additional 22,689 shares during the quarter. abrdn plc's holdings in DocuSign were worth $3,488,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in DOCU. Massmutual Trust Co. FSB ADV boosted its stake in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company's stock worth $27,000 after acquiring an additional 500 shares in the last quarter. Mather Group LLC. raised its position in DocuSign by 4,338.5% during 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 in the last quarter. nVerses Capital LLC bought a new stake in DocuSign in the second quarter worth $48,000. Quarry LP bought a new position in shares of DocuSign in the 2nd quarter valued at approximately $53,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of DocuSign in the second quarter valued at approximately $72,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Stock Performance

DOCU traded down $1.26 during trading on Monday, reaching $69.85. 1,953,314 shares of the stock were exchanged, compared to its average volume of 2,904,002. The stock has a market cap of $14.18 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 7.34 and a beta of 0.90. DocuSign, Inc. has a twelve month low of $39.65 and a twelve month high of $73.80. The stock's 50 day moving average price is $63.38 and its two-hundred day moving average price is $58.13.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.97 earnings per share 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 company's revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 earnings per share. Equities research analysts predict that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 7,764 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the transaction, the chief executive officer now directly owns 107,825 shares of the company's stock, valued at approximately $7,542,358.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the sale, the chief executive officer now directly owns 107,825 shares in the company, valued at $7,542,358.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $657,177.60. Following the completion of the sale, the chief financial officer now owns 78,265 shares in the company, valued at approximately $5,384,632. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DOCU shares. Robert W. Baird raised their target price on shares of DocuSign from $55.00 to $59.00 and gave the company a "neutral" rating in a research note on Friday, September 6th. Wells Fargo & Company lifted their price target 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. Citigroup lifted their price objective on shares of DocuSign from $86.00 to $87.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Royal Bank of Canada lifted their price objective on shares of DocuSign from $52.00 to $57.00 and gave the stock a "sector perform" rating in a research note on Friday, September 6th. Finally, Bank of America lifted their price target on shares of DocuSign from $60.00 to $68.00 and gave the company a "neutral" rating in a research note 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $63.40.

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.