Massachusetts Financial Services Co. MA Has $48.09 Million Holdings in Docusign Inc. (NASDAQ:DOCU)

Massachusetts Financial Services Co. MA boosted its position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 148.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 590,762 shares of the company's stock after purchasing an additional 353,320 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.29% of Docusign worth $48,088,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Reyes Financial Architecture Inc. raised its position in shares of Docusign by 30.2% in the 1st quarter. Reyes Financial Architecture Inc. now owns 2,149 shares of the company's stock worth $175,000 after acquiring an additional 498 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Docusign by 0.5% during the 1st quarter. Louisiana State Employees Retirement System now owns 56,600 shares of the company's stock worth $4,607,000 after buying an additional 300 shares during the last quarter. Q3 Asset Management purchased a new position in Docusign during the 1st quarter worth $232,000. Ballentine Partners LLC grew its stake in Docusign by 5.6% during the 1st quarter. Ballentine Partners LLC now owns 3,262 shares of the company's stock worth $266,000 after buying an additional 174 shares during the last quarter. Finally, Xponance Inc. grew its stake in Docusign by 1.0% during the 1st quarter. Xponance Inc. now owns 52,247 shares of the company's stock worth $4,253,000 after buying an additional 538 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley decreased their price objective on Docusign from $92.00 to $86.00 and set an "equal weight" rating for the company in a report on Friday, June 6th. JMP Securities restated a "market outperform" rating and issued a $124.00 price target on shares of Docusign in a research note on Tuesday, June 3rd. Hsbc Global Res upgraded Docusign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. Needham & Company LLC reiterated a "hold" rating on shares of Docusign in a research note on Friday, June 6th. Finally, William Blair reiterated an "outperform" rating on shares of Docusign in a research note on Monday, April 21st. Twelve investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $89.77.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $77.51, for a total value of $3,100,400.00. Following the completion of the sale, the chief executive officer directly owned 143,983 shares in the company, valued at approximately $11,160,122.33. This represents a 21.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Blake Jeffrey Grayson sold 15,143 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $74.80, for a total transaction of $1,132,696.40. Following the completion of the transaction, the chief financial officer directly owned 110,723 shares of the company's stock, valued at approximately $8,282,080.40. The trade was a 12.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,552 shares of company stock valued at $5,983,631 in the last 90 days. 1.01% of the stock is currently owned by company insiders.

Docusign Price Performance

DOCU traded up $1.75 during trading on Friday, hitting $79.37. The company's stock had a trading volume of 1,956,220 shares, compared to its average volume of 2,882,671. The firm's 50 day moving average price is $81.16 and its 200-day moving average price is $83.41. The stock has a market cap of $16.04 billion, a PE ratio of 15.00, a PEG ratio of 28.97 and a beta of 1.08. Docusign Inc. has a twelve month low of $48.80 and a twelve month high of $107.86.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.09. The company had revenue of $763.65 million during the quarter, compared to the consensus estimate of $748.79 million. Docusign had a return on equity of 14.27% and a net margin of 36.50%. Docusign's revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 EPS. Equities analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current year.

Docusign announced that its Board of Directors has authorized a share buyback program on Thursday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 6.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Docusign Company 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.