Daiwa Securities Group Inc. Acquires 3,737 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Daiwa Securities Group Inc. lifted its stake in DocuSign, Inc. (NASDAQ:DOCU) by 24.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,270 shares of the company’s stock after acquiring an additional 3,737 shares during the period. Daiwa Securities Group Inc.’s holdings in DocuSign were worth $1,733,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Moran Wealth Management LLC increased its holdings in shares of DocuSign by 16.9% during the 4th quarter. Moran Wealth Management LLC now owns 14,816 shares of the company’s stock worth $1,333,000 after purchasing an additional 2,146 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of DocuSign by 45.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 190,358 shares of the company’s stock valued at $17,121,000 after buying an additional 59,162 shares during the period. Amundi grew its position in DocuSign by 565.8% during the fourth quarter. Amundi now owns 1,379,575 shares of the company’s stock worth $123,486,000 after buying an additional 1,172,368 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in DocuSign by 8.2% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,506 shares of the company’s stock valued at $249,000 after acquiring an additional 190 shares during the period. Finally, Edgestream Partners L.P. raised its holdings in DocuSign by 72.1% in the 4th quarter. Edgestream Partners L.P. now owns 32,979 shares of the company’s stock valued at $2,966,000 after acquiring an additional 13,816 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

DocuSign Trading Up 14.8 %

Shares of NASDAQ DOCU opened at $85.76 on Friday. The company has a market cap of $17.33 billion, a PE ratio of 17.68, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The company has a 50-day moving average of $87.97 and a two-hundred day moving average of $79.22.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data 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 return on equity of 14.90% and a net margin of 34.73%. DocuSign’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. As a group, equities research analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Insider Activity

In related news, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the transaction, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This trade represents a 20.40 % 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, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.60, for a total transaction of $50,516.40. Following the completion of the transaction, the director now directly owns 7,736 shares of the company’s stock, valued at approximately $731,825.60. This trade represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,422 shares of company stock worth $9,665,394 over the last ninety days. Insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

DOCU has been the topic of several recent research reports. Wedbush reissued a “neutral” rating and set a $100.00 price objective on shares of DocuSign in a report on Friday. Morgan Stanley lifted their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective on shares of DocuSign in a report on Friday. Finally, Piper Sandler upped their target price on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and an average target price of $95.58.

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.