Thrivent Financial for Lutherans Sells 240,130 Shares of Docusign Inc. $DOCU

by · The Markets Daily

Thrivent Financial for Lutherans lowered its holdings in shares of Docusign Inc. (NASDAQ:DOCU – Free Report) by 10.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,075,844 shares of the company’s stock after selling 240,130 shares during the period. Thrivent Financial for Lutherans’ holdings in Docusign were worth $161,688,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Docusign in the second quarter worth $140,987,000. Wellington Management Group LLP grew its stake in Docusign by 372.5% during the first quarter. Wellington Management Group LLP now owns 1,826,949 shares of the company’s stock valued at $148,714,000 after acquiring an additional 1,440,269 shares in the last quarter. Duquesne Family Office LLC bought a new stake in Docusign in the 1st quarter valued at $87,477,000. Third Point LLC bought a new stake in Docusign in the 2nd quarter valued at $48,681,000. Finally, Jupiter Asset Management Ltd. lifted its stake in Docusign by 88.3% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,316,440 shares of the company’s stock worth $102,538,000 after purchasing an additional 617,200 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Docusign Stock Up 1.3%

DOCU opened at $71.11 on Friday. The stock’s fifty day moving average is $69.18 and its two-hundred day moving average is $74.60. The company has a market capitalization of $14.24 billion, a P/E ratio of 49.73, a PEG ratio of 3.57 and a beta of 0.98. Docusign Inc. has a 52 week low of $63.41 and a 52 week high of $99.71.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DOCU shares. Needham & Company LLC restated a “hold” rating on shares of Docusign in a research report on Friday, December 5th. JMP Securities restated a “market outperform” rating and issued a $124.00 target price on shares of Docusign in a report on Friday, October 3rd. UBS Group lowered their price target on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Docusign in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $95.00 price objective on shares of Docusign in a research report on Friday, December 5th. Four research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat, Docusign currently has an average rating of “Hold” and an average target price of $86.71.

Get Our Latest Stock Report on Docusign

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 9,509 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $83.10, for a total transaction of $790,197.90. Following the completion of the transaction, the chief financial officer owned 112,160 shares in the company, valued at $9,320,496. The trade was a 7.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $71.19, for a total value of $533,925.00. Following the sale, the insider owned 55,442 shares of the company’s stock, valued at approximately $3,946,915.98. This represents a 11.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 103,712 shares of company stock valued at $7,774,976 over the last three months. Corporate insiders own 1.01% of the company’s stock.

Docusign Company Profile

(Free Report)

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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