Asahi Life Asset Management CO. LTD. Has $434,000 Stake in DocuSign, Inc. (NASDAQ:DOCU)

Asahi Life Asset Management CO. LTD. trimmed its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 18.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,820 shares of the company’s stock after selling 1,070 shares during the period. Asahi Life Asset Management CO. LTD.’s holdings in DocuSign were worth $434,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOCU. KBC Group NV grew its stake in DocuSign by 209.8% in the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after acquiring an additional 783,419 shares during the period. Bank of New York Mellon Corp grew its stake in DocuSign by 61.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock valued at $150,525,000 after acquiring an additional 637,505 shares during the period. Fiera Capital Corp acquired a new position in DocuSign in the fourth quarter valued at about $47,920,000. Principal Financial Group Inc. grew its stake in DocuSign by 3,026.7% in the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock valued at $49,179,000 after acquiring an additional 529,308 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in DocuSign by 42.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock valued at $90,625,000 after acquiring an additional 434,312 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DocuSign

In other DocuSign news, Director Daniel D. Springer sold 581,588 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total value of $56,437,299.52. Following the sale, the director now owns 906,430 shares in the company, valued at $87,959,967.20. This represents a 39.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the sale, the chief executive officer now owns 100,062 shares in the company, valued at $8,058,993.48. This represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 693,773 shares of company stock worth $66,727,926 over the last 90 days. Company insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

DOCU opened at $83.17 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 $16.80 billion, a PE ratio of 17.15, a PEG ratio of 6.94 and a beta of 0.89. The business’s 50-day simple moving average is $90.43 and its 200 day simple moving average is $77.74.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Jefferies Financial Group upped their price objective on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Tuesday, February 4th. Robert W. Baird upped their price objective on DocuSign from $59.00 to $100.00 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 research report on Friday, December 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $92.45.

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.