Allianz Asset Management GmbH grew its holdings in shares of Docusign Inc (NASDAQ:DOCU) by 236.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 370,560 shares of the company’s stock after purchasing an additional 260,280 shares during the period. Allianz Asset Management GmbH owned 0.24% of Docusign worth $19,480,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Bank of Montreal Can bought a new position in Docusign during the 2nd quarter valued at approximately $145,000. Janney Montgomery Scott LLC bought a new position in Docusign during the 2nd quarter valued at approximately $834,000. Massachusetts Financial Services Co. MA bought a new position in Docusign during the 2nd quarter valued at approximately $936,000. Raymond James Financial Services Advisors Inc. bought a new position in Docusign during the 2nd quarter valued at approximately $2,699,000. Finally, TD Asset Management Inc. bought a new position in Docusign during the 2nd quarter valued at approximately $1,059,000. 39.06% of the stock is currently owned by institutional investors.
In other news, Director Peter Solvik sold 1,304,348 shares of the stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $55.00, for a total value of $71,739,140.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have commented on DOCU. Wedbush began coverage on Docusign in a research report on Thursday, October 18th. They set a “neutral” rating and a $45.00 price target for the company. Deutsche Bank lowered their price target on Docusign to $50.00 and set a “hold” rating for the company in a research report on Friday. Morgan Stanley increased their target price on Docusign from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Friday. Piper Jaffray Companies reissued an “overweight” rating and issued a $50.00 target price on shares of Docusign in a research report on Friday. Finally, Zacks Investment Research raised Docusign from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Docusign presently has an average rating of “Hold” and a consensus price target of $59.60.
Shares of NASDAQ:DOCU opened at $39.66 on Friday. Docusign Inc has a 52-week low of $35.06 and a 52-week high of $68.35.
Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, December 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.07). The firm had revenue of $178.39 million during the quarter, compared to analysts’ expectations of $173.55 million. Docusign’s revenue for the quarter was up 36.6% on a year-over-year basis. On average, equities research analysts predict that Docusign Inc will post -2.46 EPS for the current fiscal year.
Docusign Company Profile
DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.
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