Sumitomo Mitsui Trust Group Inc. Has $41.15 Million Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 457,519 shares of the company’s stock after selling 17,594 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of DocuSign worth $41,149,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of DOCU. Itau Unibanco Holding S.A. purchased a new position in DocuSign during the 3rd quarter valued at about $28,000. Brooklyn Investment Group acquired a new stake in shares of DocuSign during the third quarter worth approximately $33,000. Modus Advisors LLC purchased a new position in DocuSign during the fourth quarter valued at approximately $36,000. Reston Wealth Management LLC acquired a new position in DocuSign in the 3rd quarter valued at approximately $47,000. Finally, Avior Wealth Management LLC lifted its position in DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after buying an additional 145 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Citigroup boosted their price target on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. boosted their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Piper Sandler raised their price target on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Morgan Stanley boosted their price target on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Finally, UBS Group raised their price objective on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $92.45.

DocuSign Trading Up 0.4 %

NASDAQ DOCU opened at $90.86 on Tuesday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The company has a fifty day simple moving average of $92.58 and a 200 day simple moving average of $74.47. The company has a market cap of $18.36 billion, a P/E ratio of 18.73, a P/E/G ratio of 7.56 and a beta of 0.89.

Insiders Place Their Bets

In other news, CFO Blake Jeffrey Grayson sold 15,588 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the completion of the transaction, the chief financial officer now directly owns 85,851 shares in the company, valued at $8,394,510.78. The trade was a 15.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Chatwani sold 14,800 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the completion of the sale, the insider now owns 73,414 shares in the company, valued at approximately $7,176,952.64. The trade was a 16.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 685,773 shares of company stock valued at $66,032,726 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.