Nippon Life Global Investors Americas Inc. Makes New $8.49 Million Investment in DocuSign, Inc. (NASDAQ:DOCU)

Nippon Life Global Investors Americas Inc. purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 94,440 shares of the company's stock, valued at approximately $8,494,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in DocuSign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company's stock worth $548,726,000 after purchasing an additional 3,908,139 shares during the last quarter. American Century Companies Inc. raised its stake in shares of DocuSign by 18.5% during the fourth quarter. American Century Companies Inc. now owns 5,315,459 shares of the company's stock worth $478,072,000 after buying an additional 831,611 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in DocuSign by 4.9% in the fourth quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company's stock valued at $392,434,000 after buying an additional 205,304 shares during the period. Geode Capital Management LLC boosted its stake in DocuSign by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company's stock valued at $335,147,000 after acquiring an additional 249,179 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in DocuSign by 283.9% during the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock worth $310,048,000 after acquiring an additional 2,549,310 shares during the period. Institutional investors own 77.64% of the company's stock.

Wall Street Analyst Weigh In

DOCU has been the topic of a number of analyst reports. William Blair reissued an "outperform" rating on shares of DocuSign in a research note on Monday. Bank of America cut their target price on DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 target price on shares of DocuSign in a research report on Friday, March 14th. Hsbc Global Res raised DocuSign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. Finally, Needham & Company LLC restated a "hold" rating on shares of DocuSign in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, DocuSign currently has a consensus rating of "Hold" and a consensus price target of $92.46.

Insiders Place Their Bets

In related news, insider James P. Shaughnessy sold 7,500 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total value of $609,825.00. Following the completion of the transaction, the insider now directly owns 45,875 shares of the company's stock, valued at approximately $3,730,096.25. This trade represents a 14.05 % 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, CFO Blake Jeffrey Grayson sold 8,000 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,851 shares of company stock valued at $4,607,439 in the last three months. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Stock Performance

NASDAQ DOCU traded up $1.14 on Friday, reaching $82.81. The company had a trading volume of 1,051,319 shares, compared to its average volume of 2,741,011. The company's fifty day moving average is $80.43 and its 200-day moving average is $83.47. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The firm has a market capitalization of $16.77 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20.

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