Sumitomo Mitsui Trust Group Inc. Has $41.15 Million Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Sumitomo Mitsui Trust Group Inc. trimmed its position in DocuSign, Inc. (NASDAQ:DOCU) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 457,519 shares of the company’s stock after selling 17,594 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in DocuSign were worth $41,149,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DOCU. Truist Financial Corp lifted its holdings in shares of DocuSign by 18.1% during the 2nd quarter. Truist Financial Corp now owns 9,138 shares of the company’s stock worth $489,000 after acquiring an additional 1,399 shares during the period. Park Avenue Securities LLC acquired a new position in DocuSign in the third quarter worth about $231,000. CWM LLC lifted its stake in DocuSign by 3.0% during the third quarter. CWM LLC now owns 32,027 shares of the company’s stock worth $1,989,000 after purchasing an additional 945 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in DocuSign by 400.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,500 shares of the company’s stock valued at $93,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Inspire Investing LLC bought a new stake in shares of DocuSign in the 3rd quarter valued at approximately $911,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the sale, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert Chatwani sold 14,800 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the transaction, the insider now owns 73,414 shares in the company, valued at approximately $7,176,952.64. The trade was a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 685,773 shares of company stock valued at $66,032,726. 1.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

DOCU has been the subject of several analyst reports. Robert W. Baird raised their target price on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Tuesday, February 4th. JPMorgan Chase & Co. upped their target price on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Citigroup increased their target price on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $92.45.

DocuSign Trading Up 0.4 %

Shares of DOCU stock opened at $90.86 on Tuesday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The firm’s 50 day moving average is $92.58 and its 200-day moving average is $74.47. The firm has a market capitalization of $18.36 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 7.56 and a beta of 0.89.

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.