Nissay Asset Management Corp Japan ADV Boosts Stake in DocuSign, Inc. (NASDAQ:DOCU)

Nissay Asset Management Corp Japan ADV boosted its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 111.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,515 shares of the company’s stock after acquiring an additional 40,263 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in DocuSign were worth $7,116,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new position in DocuSign during the 4th quarter worth approximately $30,000. First Horizon Advisors Inc. boosted its holdings in shares of DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after acquiring an additional 201 shares during the period. Bessemer Group Inc. increased its stake in DocuSign by 490.0% in the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company’s stock valued at $42,000 after purchasing an additional 392 shares during the period. Avion Wealth increased its position in DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after acquiring an additional 368 shares during the period. Finally, Avior Wealth Management LLC raised its stake in shares of 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 during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DOCU shares. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price objective on shares of DocuSign in a research report on Friday, March 14th. Morgan Stanley cut their target price on shares of DocuSign from $97.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. UBS Group reduced their price objective on DocuSign from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Wedbush reaffirmed a “neutral” rating and issued a $100.00 target price on shares of DocuSign in a research note on Friday, March 14th. Finally, Wells Fargo & Company dropped their price objective on shares of DocuSign from $73.00 to $65.00 and set an “underweight” rating for the company in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $92.46.

DocuSign Stock Up 0.3%

DOCU opened at $90.55 on Friday. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The firm has a market capitalization of $18.34 billion, a P/E ratio of 18.67, a P/E/G ratio of 6.94 and a beta of 1.21. The firm’s 50 day moving average is $80.93 and its 200-day moving average is $84.93.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $760.94 million. During the same period in the previous year, the business earned $0.76 EPS. DocuSign’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 16,111 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total value of $1,340,435.20. Following the completion of the transaction, the chief financial officer now owns 93,960 shares in the company, valued at approximately $7,817,472. This represents a 14.64% decrease in their position. The transaction 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 the firm’s 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 completion of the sale, the director now owns 8,270 shares in the company, valued at approximately $722,880.70. This represents a 6.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,851 shares of company stock valued at $3,912,239 in the last quarter. Insiders own 1.66% of the company’s stock.

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.