Mitsubishi UFJ Trust & Banking Corp Sells 16,851 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Mitsubishi UFJ Trust & Banking Corp lessened its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 183,670 shares of the company's stock after selling 16,851 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.09% of DocuSign worth $16,519,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DOCU. Citizens Financial Group Inc. RI increased its holdings in shares of DocuSign by 2.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock valued at $539,000 after purchasing an additional 133 shares during the period. Rakuten Securities Inc. lifted its stake in shares of DocuSign by 20.9% in the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock worth $72,000 after acquiring an additional 138 shares during the period. Synergy Financial Group LTD boosted its holdings in shares of DocuSign by 3.4% in the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company's stock valued at $381,000 after acquiring an additional 140 shares in the last quarter. M&T Bank Corp increased its stake in shares of DocuSign by 1.3% during the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company's stock valued at $975,000 after acquiring an additional 143 shares during the period. Finally, Avior Wealth Management LLC raised its holdings in DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock worth $49,000 after purchasing an additional 145 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Remove Ads

Insiders Place Their Bets

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total transaction of $676,275.00. Following the completion of the transaction, the insider now owns 43,781 shares in the company, valued at $3,947,732.77. This trade represents a 14.63 % 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 link. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the sale, the director now directly owns 8,270 shares in the company, valued at $722,880.70. The trade was a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,851 shares of company stock worth $8,579,369 over the last 90 days. Corporate insiders own 1.66% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DOCU. Royal Bank of Canada restated a "sector perform" rating and issued a $90.00 price objective on shares of DocuSign in a report on Friday, March 14th. Hsbc Global Res raised DocuSign to a "moderate sell" rating in a research report on Friday, December 6th. UBS Group cut their target price on shares of DocuSign from $100.00 to $90.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Robert W. Baird set a $93.00 price target on DocuSign in a report on Friday, March 14th. Finally, Piper Sandler increased their target price on shares of DocuSign from $60.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $95.83.

DocuSign Stock Performance

Shares of DOCU traded up $0.93 during trading hours on Tuesday, reaching $82.33. 1,204,611 shares of the company traded hands, compared to its average volume of 2,449,584. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The stock has a market cap of $16.67 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The stock's fifty day moving average is $87.01 and its 200 day moving average is $81.71.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same quarter last year, the company earned $0.76 EPS. The company's quarterly revenue was up 9.0% on a year-over-year basis. On average, equities research analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

About DocuSign

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.