Nomura Asset Management Co. Ltd. Buys 30,859 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Nomura Asset Management Co. Ltd. grew its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 20.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 179,453 shares of the company's stock after acquiring an additional 30,859 shares during the period. Nomura Asset Management Co. Ltd. owned 0.09% of DocuSign worth $16,140,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of DOCU. Toronto Dominion Bank raised its position in DocuSign by 30.3% in the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company's stock worth $1,624,000 after purchasing an additional 6,081 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of DocuSign by 39.5% during the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company's stock worth $12,514,000 after acquiring an additional 57,104 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of DocuSign by 118.8% during the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company's stock valued at $54,695,000 after acquiring an additional 330,136 shares during the period. KBC Group NV boosted its holdings in DocuSign by 32.7% in the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company's stock valued at $138,067,000 after acquiring an additional 378,233 shares during the last quarter. Finally, Jennison Associates LLC acquired a new stake in DocuSign in the fourth quarter worth about $12,897,000. 77.64% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, insider Robert Chatwani sold 15,706 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the completion of the transaction, the insider now directly owns 76,842 shares of the company's stock, valued at $6,392,485.98. This represents a 16.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total value of $676,275.00. Following the completion of the sale, the insider now directly owns 43,781 shares in the company, valued at approximately $3,947,732.77. This represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,851 shares of company stock valued at $8,579,369. Company insiders own 1.66% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on DOCU shares. Bank of America cut their target price on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Robert W. Baird set a $93.00 price objective on shares of DocuSign in a research note on Friday, March 14th. Wedbush reaffirmed a "neutral" rating and set a $100.00 target price on shares of DocuSign in a report on Friday, March 14th. William Blair raised DocuSign from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $95.83.

DocuSign Trading Up 1.6 %

Shares of NASDAQ:DOCU traded up $1.29 during trading on Tuesday, hitting $82.69. 2,064,838 shares of the company's stock traded hands, compared to its average volume of 2,686,705. The company has a 50-day moving average price of $87.01 and a 200-day moving average price of $81.71. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The company has a market cap of $16.74 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly 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. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same quarter in the previous year, the firm posted $0.76 earnings per share. The business's revenue was up 9.0% on a year-over-year basis. On average, analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

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.