Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Sumitomo Mitsui Trust Group Inc. increased its position in DocuSign, Inc. (NASDAQ:DOCU) by 10.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 475,113 shares of the company’s stock after acquiring an additional 44,615 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in DocuSign were worth $29,500,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV increased its stake in shares of DocuSign by 5,000.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Mather Group LLC. boosted its holdings in DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares during the period. Reston Wealth Management LLC purchased a new stake in DocuSign in the 3rd quarter worth $47,000. nVerses Capital LLC bought a new stake in DocuSign during the second quarter valued at about $48,000. Finally, Quarry LP purchased a new position in shares of DocuSign in the second quarter valued at about $53,000. Institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a research report on Thursday, September 5th. Citigroup lifted their price objective on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, September 6th. Wells Fargo & Company lifted 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. Finally, Bank of America increased their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.40.

Insider Activity

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

DocuSign Trading Down 1.6 %

DOCU opened at $79.11 on Friday. The stock has a 50-day moving average of $67.05 and a 200 day moving average of $59.48. DocuSign, Inc. has a 12 month low of $42.12 and a 12 month high of $83.68. The firm has a market cap of $16.06 billion, a P/E ratio of 16.69, a P/E/G ratio of 8.66 and a beta of 0.90.

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

DocuSign Company 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.