Thrivent Financial for Lutherans Acquires 112,919 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Thrivent Financial for Lutherans raised its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,277,312 shares of the company's stock after purchasing an additional 112,919 shares during the period. Thrivent Financial for Lutherans owned 1.12% of DocuSign worth $141,398,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV grew its stake in DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company's stock worth $27,000 after buying an additional 500 shares during the period. Mather Group LLC. grew its stake in DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company's stock worth $31,000 after buying an additional 564 shares during the period. Reston Wealth Management LLC purchased a new stake in DocuSign during the third quarter worth approximately $47,000. nVerses Capital LLC purchased a new stake in DocuSign during the second quarter worth approximately $48,000. Finally, Quarry LP purchased a new stake in DocuSign during the second quarter worth approximately $53,000. Institutional investors and hedge funds own 77.64% of the company's stock.

Insiders Place Their Bets

In related news, CEO Allan C. Thygesen sold 7,725 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.09, for a total value of $456,470.25. Following the sale, the chief executive officer now owns 102,193 shares of the company's stock, valued at $6,038,584.37. This trade represents a 7.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the completion of the transaction, the insider now owns 70,748 shares of the company's stock, valued at $3,923,684.08. This represents a 17.30 % decrease in their position. 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. Company insiders own 1.66% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Bank of America upped their target price 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. Robert W. Baird upped 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. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a research note on Friday, September 6th. JMP Securities restated a "market outperform" rating and issued a $84.00 target price on shares of DocuSign in a research note on Thursday, September 5th. Finally, Citigroup upped their target price on shares of DocuSign from $86.00 to $87.00 and gave the company a "buy" rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $63.40.

DocuSign Trading Down 1.6 %

NASDAQ DOCU traded down $1.25 during trading hours on Friday, reaching $79.11. 2,165,420 shares of the company traded hands, compared to its average volume of 2,406,698. DocuSign, Inc. has a 12 month low of $42.12 and a 12 month high of $83.68. The stock has a market capitalization of $16.06 billion, a PE ratio of 16.69, a PEG ratio of 8.37 and a beta of 0.90. The company has a 50 day moving average of $67.05 and a two-hundred day moving average of $59.50.

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

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.