Mitsubishi UFJ Asset Management Co. Ltd. Acquires 14,216 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in DocuSign, Inc. (NASDAQ:DOCU) by 10.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,797 shares of the company’s stock after buying an additional 14,216 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.07% of DocuSign worth $13,513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in DOCU. The Manufacturers Life Insurance Company grew its holdings in shares of DocuSign by 2.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 53,508 shares of the company’s stock worth $3,322,000 after purchasing an additional 1,248 shares in the last quarter. FMR LLC lifted its position in DocuSign by 16.8% during the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $136,156,000 after purchasing an additional 315,073 shares during the period. Townsquare Capital LLC grew its stake in DocuSign by 3.7% during the third quarter. Townsquare Capital LLC now owns 5,103 shares of the company’s stock worth $317,000 after buying an additional 183 shares in the last quarter. Freedom Investment Management Inc. bought a new position in DocuSign in the 3rd quarter valued at about $201,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in DocuSign by 14.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company’s stock valued at $103,030,000 after buying an additional 208,813 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, March 14th. Bank of America reduced their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Finally, Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $95.83.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $81.40 on Tuesday. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The firm has a market cap of $16.48 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The firm’s fifty day moving average is $87.01 and its 200-day moving average is $81.71.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. The firm had revenue of $776.25 million for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $0.76 EPS. Sell-side analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current year.

Insider Activity at DocuSign

In related news, insider Robert Chatwani sold 15,706 shares of DocuSign stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the completion of the transaction, the insider now owns 76,842 shares of the company’s stock, valued at $6,392,485.98. This trade represents a 16.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total transaction of $676,275.00. Following the completion of the transaction, the insider now owns 43,781 shares in the company, valued at approximately $3,947,732.77. The trade was a 14.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,851 shares of company stock worth $8,579,369 over the last ninety days. Insiders own 1.66% of the company’s stock.

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.