Mitsubishi UFJ Asset Management Co. Ltd. Acquires 14,216 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in DocuSign, Inc. (NASDAQ:DOCU) by 10.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 149,797 shares of the company’s stock after purchasing an additional 14,216 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in DocuSign were worth $13,513,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new stake in DocuSign in the third quarter valued at $28,000. Kestra Investment Management LLC bought a new stake in DocuSign in the 4th quarter valued at about $30,000. Modus Advisors LLC acquired a new position in DocuSign during the 4th quarter worth approximately $36,000. First Horizon Advisors Inc. raised its position in shares of DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares during the period. Finally, Avion Wealth grew its position in DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after purchasing an additional 368 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Performance

DOCU opened at $81.40 on Tuesday. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The firm has a 50-day moving average of $87.01 and a 200 day moving average of $81.71. The firm has a market cap of $16.48 billion, a P/E ratio of 16.78, a PEG ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 EPS. Equities research analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Robert Chatwani sold 15,706 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the sale, the insider now directly owns 76,842 shares in the company, valued at approximately $6,392,485.98. This represents a 16.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of DocuSign stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the completion of the transaction, the chief financial officer now owns 93,960 shares of the company’s stock, valued at $7,817,472. This represents a 14.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,851 shares of company stock valued at $8,579,369 over the last ninety days. 1.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on DOCU. UBS Group dropped their price objective on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. HSBC reissued a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and raised their target price for the company from $70.00 to $75.00 in a report on Monday, March 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $95.83.

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.