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

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 42,706 shares of the company’s stock after purchasing an additional 1,270 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in DocuSign were worth $3,841,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DOCU. State Street Corp raised its position in shares of DocuSign by 2.3% during the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after purchasing an additional 120,743 shares during the last quarter. Geode Capital Management LLC increased its stake in DocuSign by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after buying an additional 53,554 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of DocuSign by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock valued at $141,398,000 after acquiring an additional 112,919 shares during the last quarter. FMR LLC lifted its position in shares of DocuSign by 16.8% in the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock valued at $136,156,000 after acquiring an additional 315,073 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of DocuSign by 14.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company’s stock worth $103,030,000 after acquiring an additional 208,813 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $124.00 price objective on shares of DocuSign in a report on Tuesday, January 7th. Citigroup raised their price target on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Piper Sandler upped their price objective on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. UBS Group raised their target price on shares of DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.45.

Insider Buying and Selling at DocuSign

In other news, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the sale, the chief executive officer now owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel D. Springer sold 581,588 shares of DocuSign stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the transaction, the director now owns 906,430 shares of the company’s stock, valued at approximately $87,959,967.20. This trade represents a 39.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 685,773 shares of company stock worth $66,032,726 over the last three months. Insiders own 1.66% of the company’s stock.

DocuSign Trading Down 3.6 %

NASDAQ DOCU opened at $90.48 on Monday. The stock has a fifty day simple moving average of $92.58 and a 200-day simple moving average of $74.33. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The stock has a market cap of $18.28 billion, a PE ratio of 18.66, a P/E/G ratio of 7.56 and a beta of 0.89.

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.