Massachusetts Financial Services Co. MA Has $21.36 Million Stake in DocuSign, Inc. (NASDAQ:DOCU)

Massachusetts Financial Services Co. MA boosted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 633.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,442 shares of the company’s stock after buying an additional 205,051 shares during the period. Massachusetts Financial Services Co. MA’s holdings in DocuSign were worth $21,356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank boosted its position in shares of DocuSign by 30.3% during the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after acquiring an additional 6,081 shares in the last quarter. Rhumbline Advisers boosted its holdings in DocuSign by 118.8% during the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after purchasing an additional 330,136 shares in the last quarter. KBC Group NV raised its holdings in shares of DocuSign by 32.7% in the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock worth $138,067,000 after buying an additional 378,233 shares in the last quarter. Jennison Associates LLC bought a new position in shares of DocuSign during the 4th quarter worth approximately $12,897,000. Finally, Everence Capital Management Inc. bought a new position in shares of DocuSign during the 4th quarter worth approximately $720,000. Institutional investors own 77.64% of the company’s stock.

Insider Transactions at DocuSign

In other news, Director Peter Solvik sold 10,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the completion of the transaction, the director now directly owns 150,253 shares in the company, valued at approximately $13,712,088.78. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the sale, the chief financial officer now owns 77,851 shares in the company, valued at $6,765,251.90. This represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,851 shares of company stock worth $4,911,319 in the last quarter. 1.66% of the stock is owned by company insiders.

DocuSign Stock Performance

Shares of DOCU opened at $72.21 on Monday. The business’s fifty day moving average price is $86.02 and its two-hundred day moving average price is $82.35. The firm has a market capitalization of $14.62 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.76 earnings per share. As a group, research analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. Jefferies Financial Group dropped their target price on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. Bank of America decreased their price objective on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Finally, Robert W. Baird set a $93.00 target price on shares of DocuSign in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DocuSign presently has an average rating of “Hold” and an average price target of $95.83.

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.