DocuSign, Inc. (NASDAQ:DOCU) Shares Acquired by Truist Financial Corp

Truist Financial Corp grew its stake in DocuSign, Inc. (NASDAQ:DOCUGet Rating) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,617 shares of the company’s stock after buying an additional 242 shares during the quarter. Truist Financial Corp’s holdings in DocuSign were worth $1,103,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of DocuSign by 20.3% in the 1st quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock valued at $1,854,127,000 after buying an additional 2,917,683 shares during the period. Capital World Investors lifted its holdings in shares of DocuSign by 128.3% in the 1st quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock valued at $608,853,000 after buying an additional 3,193,727 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of DocuSign by 1.9% in the 1st quarter. Clearbridge Investments LLC now owns 3,186,783 shares of the company’s stock valued at $341,368,000 after buying an additional 58,555 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of DocuSign by 123.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,329,300 shares of the company’s stock valued at $133,655,000 after buying an additional 1,286,400 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of DocuSign by 1.5% in the 1st quarter. First Trust Advisors LP now owns 2,257,554 shares of the company’s stock valued at $241,829,000 after buying an additional 34,448 shares during the period. Institutional investors and hedge funds own 76.18% of the company’s stock.

DocuSign Trading Down 6.1 %

DOCU opened at $53.99 on Friday. DocuSign, Inc. has a one year low of $39.57 and a one year high of $132.88. The stock has a market capitalization of $10.86 billion, a PE ratio of -81.80 and a beta of 1.00. The business’s 50 day moving average price is $52.09 and its 200 day moving average price is $55.78. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.02 and a current ratio of 1.02.

DocuSign (NASDAQ:DOCUGet Rating) last released its quarterly earnings data on Thursday, December 8th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.13. DocuSign had a negative return on equity of 18.86% and a negative net margin of 5.45%. The firm had revenue of $645.46 million for the quarter, compared to analysts’ expectations of $626.07 million. As a group, equities research analysts expect that DocuSign, Inc. will post -0.1 EPS for the current year.

Insider Activity at DocuSign

In related news, Director Daniel D. Springer sold 147,009 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $58.48, for a total value of $8,597,086.32. Following the transaction, the director now directly owns 1,524,335 shares in the company, valued at $89,143,110.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DOCU. Wedbush upgraded DocuSign from an “underperform” rating to a “neutral” rating and set a $55.00 price target for the company in a research note on Wednesday, October 12th. Wells Fargo & Company lifted their price target on DocuSign from $48.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday, January 6th. Bank of America cut their price objective on DocuSign from $80.00 to $65.00 in a research note on Friday, December 9th. TheStreet lowered DocuSign from a “c-” rating to a “d+” rating in a research note on Wednesday, November 9th. Finally, Royal Bank of Canada cut their price objective on DocuSign from $65.00 to $55.00 in a research note on Thursday, September 29th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.71.

DocuSign Profile

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DocuSign, Inc provides electronic signature software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they're signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.

Further Reading

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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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