Glenmede Trust Co. NA Has $49.26 Million Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Glenmede Trust Co. NA increased its position in DocuSign, Inc. (NASDAQ:DOCU) by 28.5% in the third quarter, Holdings Channel.com reports. The firm owned 793,301 shares of the company’s stock after acquiring an additional 175,952 shares during the period. Glenmede Trust Co. NA’s holdings in DocuSign were worth $49,256,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans acquired a new position in shares of DocuSign in the 2nd quarter valued at $115,795,000. Pacer Advisors Inc. lifted its stake in DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after buying an additional 1,541,816 shares during the period. KBC Group NV boosted its holdings in DocuSign by 209.8% during the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock worth $71,830,000 after buying an additional 783,419 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after buying an additional 576,414 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of DocuSign by 151.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock valued at $46,324,000 after acquiring an additional 521,292 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

DocuSign Trading Down 0.2 %

NASDAQ DOCU opened at $85.30 on Wednesday. DocuSign, Inc. has a 12 month low of $42.13 and a 12 month high of $86.75. The stock has a 50 day moving average of $70.63 and a 200-day moving average of $60.66. The company has a market cap of $17.31 billion, a PE ratio of 18.00, a PEG ratio of 9.05 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm had revenue of $736.03 million for the quarter, compared to analyst estimates of $727.20 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts predict that DocuSign, Inc. will post 1.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on DOCU. Citigroup lifted their price objective on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Wells Fargo & Company boosted their price target on shares of DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Bank of America raised their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada increased their price target on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, September 6th. Finally, Robert W. Baird lifted their price objective on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, DocuSign has a consensus rating of “Hold” and a consensus target price of $65.80.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the transaction, the director now owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 7,725 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.09, for a total transaction of $456,470.25. Following the transaction, the chief executive officer now directly owns 102,193 shares in the company, valued at approximately $6,038,584.37. This represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is owned by company insiders.

DocuSign Profile

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.