Meiji Yasuda Life Insurance Co Lowers Position in DocuSign, Inc. (NASDAQ:DOCU)

Meiji Yasuda Life Insurance Co reduced its stake in DocuSign, Inc. (NASDAQ:DOCU) by 22.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,876 shares of the company’s stock after selling 1,720 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in DocuSign were worth $314,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Comerica Bank raised its stake in shares of DocuSign by 228.8% in the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock valued at $1,721,000 after acquiring an additional 20,110 shares during the period. Vanguard Group Inc. raised its position in DocuSign by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock valued at $1,272,214,000 after purchasing an additional 417,352 shares during the period. KBC Group NV boosted its position in shares of DocuSign by 119.3% during the fourth quarter. KBC Group NV now owns 739,196 shares of the company’s stock worth $43,945,000 after buying an additional 402,084 shares during the period. Retirement Systems of Alabama acquired a new stake in shares of DocuSign in the first quarter valued at $8,700,000. Finally, PGGM Investments raised its holdings in shares of DocuSign by 36.7% in the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock valued at $2,665,000 after buying an additional 13,379 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citigroup raised their target price on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Bank of America increased their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada boosted their price target on shares of DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company upped their price objective on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.45.

Insider Transactions at DocuSign

In related news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the sale, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $54.89, for a total value of $424,025.25. Following the completion of the sale, the chief executive officer now directly owns 109,918 shares of the company’s stock, valued at approximately $6,033,399.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of the firm’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 in the company, valued at approximately $407,345.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 460,864 shares of company stock worth $24,549,227. 1.66% of the stock is currently owned by insiders.

DocuSign Price Performance

Shares of NASDAQ DOCU opened at $56.64 on Thursday. The business has a 50-day moving average of $55.76 and a two-hundred day moving average of $56.13. The company has a market capitalization of $11.60 billion, a price-to-earnings ratio of 108.92, a price-to-earnings-growth ratio of 5.99 and a beta of 0.93. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 earnings per share. As a group, equities research analysts expect that DocuSign, Inc. will post 0.99 earnings per share for the current year.

About DocuSign

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.