Thrivent Financial for Lutherans Sells 177,120 Shares of Docusign Inc. $DOCU

Thrivent Financial for Lutherans lessened its stake in Docusign Inc. (NASDAQ:DOCU) by 13.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,174,594 shares of the company’s stock after selling 177,120 shares during the quarter. Thrivent Financial for Lutherans owned about 0.59% of Docusign worth $80,343,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DOCU. Central Pacific Bank Trust Division bought a new stake in Docusign in the fourth quarter valued at about $25,000. Torren Management LLC bought a new stake in Docusign in the fourth quarter valued at about $28,000. Aventura Private Wealth LLC bought a new stake in Docusign in the fourth quarter valued at about $30,000. True Wealth Design LLC increased its holdings in Docusign by 105.2% in the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after purchasing an additional 222 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Docusign in the fourth quarter valued at about $44,000. Institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling at Docusign

In related news, insider Robert Chatwani sold 16,696 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $48.10, for a total transaction of $803,077.60. Following the completion of the transaction, the insider directly owned 72,458 shares in the company, valued at approximately $3,485,229.80. This trade represents a 18.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $47.78, for a total value of $1,254,225.00. Following the transaction, the chief executive officer owned 152,237 shares of the company’s stock, valued at approximately $7,273,883.86. The trade was a 14.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 64,673 shares of company stock valued at $3,077,699 in the last 90 days. 1.01% of the stock is currently owned by corporate insiders.

Docusign Stock Performance

NASDAQ:DOCU opened at $47.71 on Friday. The company has a market cap of $9.27 billion, a PE ratio of 32.24, a PEG ratio of 1.74 and a beta of 0.88. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $94.67. The stock has a 50-day simple moving average of $46.89 and a 200 day simple moving average of $56.22.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Tuesday, March 17th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $836.86 million during the quarter, compared to the consensus estimate of $828.23 million. Docusign had a return on equity of 16.86% and a net margin of 9.60%.Docusign’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. On average, research analysts predict that Docusign Inc. will post 1.76 earnings per share for the current fiscal year.

Docusign declared that its Board of Directors has approved a stock repurchase plan on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 21% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DOCU. Jefferies Financial Group downgraded Docusign from a “buy” rating to a “hold” rating and dropped their price objective for the company from $105.00 to $45.00 in a report on Monday, February 23rd. UBS Group dropped their price objective on Docusign from $75.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. HSBC set a $53.00 price objective on Docusign in a report on Friday, February 13th. Citigroup downgraded Docusign from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $99.00 to $50.00 in a report on Friday, April 10th. Finally, Citizens Jmp lowered their price target on Docusign from $124.00 to $86.00 and set a “market outperform” rating for the company in a report on Wednesday, March 18th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.40.

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.