Thrivent Financial for Lutherans Has $208.49 Million Stake in DocuSign, Inc. (NASDAQ:DOCU)

Thrivent Financial for Lutherans boosted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,318,137 shares of the company’s stock after acquiring an additional 40,825 shares during the quarter. Thrivent Financial for Lutherans’ holdings in DocuSign were worth $208,494,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DOCU. Citizens Financial Group Inc. RI lifted its stake in shares of DocuSign by 2.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock valued at $539,000 after purchasing an additional 133 shares during the period. Rakuten Securities Inc. increased its holdings in DocuSign by 20.9% in the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock valued at $72,000 after purchasing an additional 138 shares during the last quarter. Synergy Financial Group LTD lifted its stake in DocuSign by 3.4% in the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after buying an additional 140 shares during the period. M&T Bank Corp boosted its holdings in DocuSign by 1.3% during the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after buying an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC grew its position in shares of DocuSign by 36.5% during the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after buying an additional 145 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DOCU. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Morgan Stanley increased their target price on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Wedbush reissued a “neutral” rating and issued a $100.00 price target on shares of DocuSign in a report on Friday. Piper Sandler upped their price objective on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, DocuSign presently has an average rating of “Hold” and a consensus target price of $95.58.

Insider Transactions at DocuSign

In other news, insider Robert Chatwani sold 14,800 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the sale, the insider now owns 73,414 shares in the company, valued at $7,176,952.64. This represents a 16.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,422 shares of company stock worth $8,903,395 in the last three months. Insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

NASDAQ DOCU opened at $83.43 on Tuesday. The stock has a market capitalization of $16.85 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The stock’s 50 day moving average price is $87.82 and its two-hundred day moving average price is $79.69.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 earnings per share. On average, equities research analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current 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.