Korea Investment CORP Purchases 70,606 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Korea Investment CORP boosted its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 46.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 223,591 shares of the company's stock after acquiring an additional 70,606 shares during the period. Korea Investment CORP owned 0.11% of DocuSign worth $20,110,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in shares of DocuSign during the 3rd quarter valued at $28,000. Kestra Investment Management LLC bought a new stake in DocuSign in the fourth quarter valued at about $30,000. Brooklyn Investment Group bought a new stake in DocuSign in the third quarter valued at about $33,000. Modus Advisors LLC acquired a new position in DocuSign in the fourth quarter valued at about $36,000. Finally, First Horizon Advisors Inc. boosted its holdings in 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 buying an additional 201 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DocuSign

In related news, insider James P. Shaughnessy sold 7,500 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 43,781 shares of the company's stock, valued at approximately $3,947,732.77. This trade represents a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the sale, the chief executive officer now owns 156,050 shares of the company's stock, valued at approximately $14,050,742. This represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,851 shares of company stock worth $8,579,369. Insiders own 1.66% of the company's stock.

Remove Ads

DocuSign Trading Up 1.6 %

Shares of DOCU stock traded up $1.29 on Tuesday, hitting $82.69. 2,064,838 shares of the stock were exchanged, compared to its average volume of 2,686,705. The firm has a market capitalization of $16.74 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The business has a 50-day moving average of $87.01 and a 200 day moving average of $81.71.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group lowered their price target on DocuSign from $100.00 to $90.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research note on Friday, March 14th. Jefferies Financial Group reduced their price target on shares of DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday. Morgan Stanley boosted their price target on shares of DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a report on Friday, December 6th. Finally, Citigroup raised their price objective on DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus 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.