Sumitomo Mitsui DS Asset Management Company Ltd Acquires 22,368 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 126.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,095 shares of the company’s stock after buying an additional 22,368 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in DocuSign were worth $2,145,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DOCU. Coatue Management LLC acquired a new stake in shares of DocuSign in the fourth quarter valued at approximately $288,274,000. Jericho Capital Asset Management L.P. increased its stake in shares of DocuSign by 316.6% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock valued at $203,536,000 after buying an additional 2,597,489 shares during the period. Norges Bank bought a new stake in shares of DocuSign during the fourth quarter worth $133,826,000. Assenagon Asset Management S.A. lifted its stake in shares of DocuSign by 956.3% during the first quarter. Assenagon Asset Management S.A. now owns 495,126 shares of the company’s stock valued at $29,485,000 after acquiring an additional 448,253 shares during the period. Finally, Vanguard Group Inc. increased its position in DocuSign by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 21,399,739 shares of the company’s stock worth $1,272,214,000 after purchasing an additional 417,352 shares during the period. Institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DOCU. JMP Securities restated a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a research report on Wednesday, July 10th. Robert W. Baird reduced their price objective on shares of DocuSign from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Citigroup dropped their target price on shares of DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Morgan Stanley reduced their price target on DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, June 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, DocuSign currently has an average rating of “Hold” and a consensus target price of $59.36.

DocuSign Price Performance

Shares of DocuSign stock opened at $59.21 on Friday. The company has a market capitalization of $12.12 billion, a P/E ratio of 113.87, a price-to-earnings-growth ratio of 8.34 and a beta of 0.94. The business has a 50-day moving average of $54.84 and a two-hundred day moving average of $55.61. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, June 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. The business had revenue of $709.64 million during the quarter, compared to analysts’ expectations of $706.07 million. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. On average, equities analysts anticipate that DocuSign, Inc. will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other DocuSign news, insider James P. Shaughnessy sold 1,800 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total transaction of $91,764.00. Following the completion of the transaction, the insider now owns 35,703 shares in the company, valued at approximately $1,820,138.94. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Daniel D. Springer sold 70,983 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.84, for a total transaction of $3,537,792.72. Following the completion of the transaction, the director now owns 891,373 shares in the company, valued at $44,426,030.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James P. Shaughnessy sold 1,800 shares of DocuSign stock in a transaction 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 completion of the sale, the insider now owns 35,703 shares in the company, valued at $1,820,138.94. The disclosure for this sale can be found here. Insiders have sold a total of 474,693 shares of company stock worth $25,067,629 over the last ninety days. Company insiders own 1.66% of the company’s stock.

About DocuSign

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.