Northwestern Mutual Wealth Management Co. Acquires Shares of 10,915 Docusign Inc. $DOCU

Northwestern Mutual Wealth Management Co. bought a new position in Docusign Inc. (NASDAQ:DOCU) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,915 shares of the company’s stock, valued at approximately $485,000.

Several other institutional investors have also made changes to their positions in DOCU. NewEdge Advisors LLC raised its stake in Docusign by 36.4% during the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after purchasing an additional 2,457 shares during the period. Guggenheim Capital LLC raised its position in Docusign by 6.7% during the second quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock valued at $899,000 after buying an additional 729 shares during the period. State Street Corp lifted its stake in Docusign by 3.0% in the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after acquiring an additional 236,494 shares in the last quarter. Sei Investments Co. grew its stake in Docusign by 60.7% during the 2nd quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock valued at $3,146,000 after acquiring an additional 15,247 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in Docusign by 51.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock valued at $14,735,000 after acquiring an additional 63,911 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, June 5th. Citigroup restated a “market outperform” rating on shares of Docusign in a report on Tuesday, August 18th. Jefferies Financial Group upped their price target on shares of Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, June 5th. BTIG Research reduced their price objective on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Finally, Wall Street Zen lowered Docusign from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Docusign has a consensus rating of “Hold” and an average target price of $60.27.

Insider Activity at Docusign

In other news, CEO Allan C. Thygesen sold 26,250 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $46.02, for a total value of $1,208,025.00. Following the sale, the chief executive officer directly owned 159,038 shares of the company’s stock, valued at approximately $7,318,928.76. This trade represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of Docusign stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $43.01, for a total value of $683,945.02. Following the completion of the transaction, the insider owned 72,805 shares in the company, valued at $3,131,343.05. The trade was a 17.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 91,695 shares of company stock valued at $4,376,002. 0.59% of the stock is owned by corporate insiders.

Docusign Stock Down 2.0%

Shares of Docusign stock opened at $59.33 on Thursday. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.65. The stock has a 50 day moving average price of $52.62 and a two-hundred day moving average price of $48.93. The stock has a market capitalization of $11.33 billion, a P/E ratio of 38.53, a PEG ratio of 1.77 and a beta of 0.87.

Docusign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The business had revenue of $830.24 million during the quarter, compared to analysts’ expectations of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. Docusign’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 earnings per share. Sell-side analysts anticipate that Docusign Inc. will post 2.04 earnings per share for the current year.

Docusign Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.