Northern Trust Corp Purchases 864,408 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Northern Trust Corp lifted its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 77.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,984,378 shares of the company's stock after buying an additional 864,408 shares during the period. Northern Trust Corp owned about 0.98% of DocuSign worth $178,475,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in DOCU. Rhumbline Advisers increased its holdings in shares of DocuSign by 118.8% in the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company's stock worth $54,695,000 after acquiring an additional 330,136 shares in the last quarter. KBC Group NV grew its position 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 valued at $138,067,000 after purchasing an additional 378,233 shares during the period. Jennison Associates LLC bought a new stake in DocuSign during the 4th quarter worth approximately $12,897,000. Everence Capital Management Inc. acquired a new stake in DocuSign during the 4th quarter worth approximately $720,000. Finally, Principal Financial Group Inc. lifted its stake in DocuSign by 3,026.7% in the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company's stock valued at $49,179,000 after buying an additional 529,308 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DOCU shares. JPMorgan Chase & Co. upgraded shares of DocuSign from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $70.00 to $75.00 in a report on Monday, March 10th. Bank of America cut their price target on DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Robert W. Baird set a $93.00 price objective on DocuSign in a research report on Friday, March 14th. HSBC raised DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 target price on the stock in a research report on Friday, April 11th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price target on shares of DocuSign in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $92.46.

Insider Activity at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total value 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. The trade was a 9.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the transaction, the director now owns 8,270 shares in the company, 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 55,851 shares of company stock worth $4,607,439 in the last ninety days. 1.66% of the stock is owned by company insiders.

DocuSign Price Performance

DOCU stock opened at $80.85 on Friday. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The stock has a market cap of $16.37 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. The company has a fifty day moving average price of $80.07 and a two-hundred day moving average price of $83.93.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. DocuSign's revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 EPS. Research analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current fiscal 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.

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