Northwestern Mutual Wealth Management Co. Buys New Shares in Docusign Inc. $DOCU

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

A number of other hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC raised its stake in shares of Docusign by 36.4% in the first 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 in the last quarter. Guggenheim Capital LLC raised its stake in shares of Docusign by 6.7% in the 2nd quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock valued at $899,000 after buying an additional 729 shares in the last quarter. State Street Corp lifted its holdings in shares of Docusign by 3.0% during 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 during the period. Sei Investments Co. boosted its position in shares of 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 increased its stake in Docusign by 51.0% in the second 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 during the period. Institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

DOCU has been the subject of a number of analyst reports. Citizens Jmp restated a “market outperform” rating and set a $86.00 price target on shares of Docusign in a research note on Tuesday, August 18th. Wells Fargo & Company decreased their price target on Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. Weiss Ratings upgraded Docusign from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Wall Street Zen lowered Docusign from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Docusign in a report on Friday, June 5th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $60.27.

Insider Buying and Selling

In other news, CRO Paula Hansen sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $273,240.00. Following the transaction, the executive directly owned 89,972 shares in the company, valued at approximately $4,097,324.88. This represents a 6.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $46.02, for a total transaction of $1,208,025.00. Following the completion of the sale, the chief executive officer directly owned 159,038 shares of the company’s stock, valued at approximately $7,318,928.76. This represents a 14.17% decrease in their position. 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. In the last 90 days, insiders sold 91,695 shares of company stock valued at $4,376,002. Insiders own 0.59% of the company’s stock.

Docusign Stock Performance

Docusign stock opened at $59.33 on Thursday. The business’s fifty day moving average is $52.62 and its two-hundred day moving average is $48.93. The firm has a market cap of $11.33 billion, a P/E ratio of 38.53, a P/E/G ratio of 1.77 and a beta of 0.87. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $86.65.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. The company had revenue of $830.24 million during the quarter, compared to analyst estimates of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $0.90 earnings per share. On average, equities research analysts predict 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.