DocuSign, Inc. (NASDAQ:DOCU) Position Increased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. boosted its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 64.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,873 shares of the company's stock after purchasing an additional 6,631 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in DocuSign were worth $1,518,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DOCU. FineMark National Bank & Trust purchased a new position in DocuSign in the 4th quarter worth approximately $210,000. Corebridge Financial Inc. lifted its position in shares of DocuSign by 5,847.3% during the fourth quarter. Corebridge Financial Inc. now owns 232,005 shares of the company's stock worth $20,867,000 after purchasing an additional 228,104 shares in the last quarter. United Services Automobile Association purchased a new position in shares of DocuSign in the fourth quarter valued at $1,193,000. Stevens Capital Management LP acquired a new stake in DocuSign during the 4th quarter valued at $253,000. Finally, LPL Financial LLC increased its stake in DocuSign by 12.4% during the 4th quarter. LPL Financial LLC now owns 209,927 shares of the company's stock worth $18,881,000 after buying an additional 23,181 shares during the period. Institutional investors and hedge funds own 77.64% of the company's stock.

Insider Buying and Selling at DocuSign

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 transaction, the insider now 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the sale, the chief executive officer now owns 156,050 shares in the company, valued at $14,050,742. This trade represents a 20.40 % 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 valued at $8,579,369 in the last quarter. Corporate insiders own 1.66% of the company's stock.

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Analyst Ratings Changes

Several analysts have recently weighed in on the company. Piper Sandler raised their target price on DocuSign from $60.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Hsbc Global Res upgraded DocuSign to a "moderate sell" rating in a research note on Friday, December 6th. Jefferies Financial Group dropped their price objective on DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Monday. HSBC reiterated a "reduce" rating on shares of DocuSign in a research note on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $95.83.

DocuSign Stock Down 2.1 %

NASDAQ DOCU traded down $1.78 during trading hours on Monday, hitting $81.40. The company had a trading volume of 2,661,102 shares, compared to its average volume of 2,689,183. The firm has a market cap of $16.48 billion, a P/E ratio of 16.78, 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 fifty day simple moving average of $87.01 and a 200-day simple moving average of $81.71.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping 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 business had revenue of $776.25 million for the quarter, compared to analysts' expectations of $760.94 million. During the same quarter last year, the company earned $0.76 EPS. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

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.