Sumitomo Mitsui Trust Holdings Inc. Acquires 3,038 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of DocuSign, Inc. (NASDAQ:DOCUFree Report) by 0.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 473,219 shares of the company’s stock after acquiring an additional 3,038 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.23% of DocuSign worth $28,180,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of DOCU. Coatue Management LLC bought a new stake in DocuSign during the fourth quarter valued at about $288,274,000. Norges Bank bought a new stake in DocuSign during the fourth quarter valued at about $133,826,000. International Assets Investment Management LLC grew its position in shares of DocuSign by 4,438.8% during the fourth quarter. International Assets Investment Management LLC now owns 521,912 shares of the company’s stock valued at $31,028,000 after purchasing an additional 510,413 shares in the last quarter. Vanguard Group Inc. grew its position in shares of DocuSign by 2.4% during the third quarter. Vanguard Group Inc. now owns 20,982,387 shares of the company’s stock valued at $881,260,000 after purchasing an additional 482,472 shares in the last quarter. Finally, Syon Capital LLC grew its position in shares of DocuSign by 450.2% during the fourth quarter. Syon Capital LLC now owns 550,221 shares of the company’s stock valued at $32,711,000 after purchasing an additional 450,221 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and raised their price objective for the company from $48.00 to $62.00 in a research report on Friday, April 12th. Morgan Stanley cut their price objective on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, June 7th. Citigroup cut their price objective on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Piper Sandler cut their price objective on DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Finally, Royal Bank of Canada dropped their price target on DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a research report on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.36.

Get Our Latest Analysis on DOCU

Insider Activity

In other news, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $54.92, for a total transaction of $27,405.08. Following the completion of the sale, the director now owns 6,668 shares of the company’s stock, valued at $366,206.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $54.92, for a total transaction of $27,405.08. Following the completion of the sale, the director now owns 6,668 shares of the company’s stock, valued at $366,206.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James P. Shaughnessy sold 1,800 shares of DocuSign stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $50.98, for a total transaction of $91,764.00. Following the sale, the insider now directly owns 35,703 shares of the company’s stock, valued at approximately $1,820,138.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,218 shares of company stock valued at $4,283,359. Corporate insiders own 1.66% of the company’s stock.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $53.83 on Tuesday. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76. The business has a 50 day simple moving average of $55.35 and a two-hundred day simple moving average of $56.51. The firm has a market capitalization of $11.02 billion, a PE ratio of 103.52, a price-to-earnings-growth ratio of 4.53 and a beta of 0.94.

DocuSign (NASDAQ:DOCUGet Free Report) last announced its earnings results on Thursday, June 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.09. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. The business had revenue of $709.64 million during the quarter, compared to analyst estimates of $706.07 million. Equities research analysts expect that DocuSign, Inc. will post 0.88 EPS for the current fiscal year.

DocuSign Profile

(Free Report)

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.

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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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