Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 3.3% in the third quarter, HoldingsChannel reports. The firm owned 41,436 shares of the company’s stock after acquiring an additional 1,341 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in DocuSign were worth $2,573,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV increased its position in DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after buying an additional 500 shares in the last quarter. Mather Group LLC. raised its stake in DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares during the last quarter. Register Financial Advisors LLC purchased a new position in DocuSign in the 1st quarter valued at about $37,000. nVerses Capital LLC acquired a new stake in shares of DocuSign during the 2nd quarter worth about $48,000. Finally, Quarry LP purchased a new stake in shares of DocuSign during the second quarter worth about $53,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,725 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 109,918 shares in the company, valued at $6,033,399.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Allan C. Thygesen sold 7,725 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $54.89, for a total transaction of $424,025.25. Following the transaction, the chief executive officer now directly owns 109,918 shares of the company’s stock, valued at approximately $6,033,399.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel D. Springer sold 287,052 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the sale, the director now directly owns 923,445 shares of the company’s stock, valued at approximately $49,662,872.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 427,554 shares of company stock worth $23,129,150. 1.66% of the stock is currently owned by company insiders.

DocuSign Stock Performance

DOCU opened at $72.30 on Monday. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $73.80. The firm has a 50 day moving average price of $60.31 and a 200 day moving average price of $57.24. The company has a market cap of $14.80 billion, a PE ratio of 139.04, a price-to-earnings-growth ratio of 7.33 and a beta of 0.92.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on DOCU. Robert W. Baird raised their target price on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Royal Bank of Canada lifted their price objective on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Wells Fargo & Company raised their price target on DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $63.40.

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.