Mitsubishi UFJ Trust & Banking Corp Sells 16,851 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 8.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 183,670 shares of the company’s stock after selling 16,851 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in DocuSign were worth $16,519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Citizens Financial Group Inc. RI raised its position in DocuSign by 2.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock worth $539,000 after purchasing an additional 133 shares during the last quarter. Rakuten Securities Inc. raised its position in shares of DocuSign by 20.9% during the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock worth $72,000 after acquiring an additional 138 shares during the last quarter. Synergy Financial Group LTD lifted its stake in shares of DocuSign by 3.4% during the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after acquiring an additional 140 shares during the period. M&T Bank Corp boosted its holdings in DocuSign by 1.3% in the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock valued at $975,000 after acquiring an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC increased its position in DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after purchasing an additional 145 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DocuSign

In other news, 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 value of $676,275.00. Following the sale, the insider now owns 43,781 shares of the company’s stock, valued at $3,947,732.77. The trade was a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the transaction, the director now directly owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. This trade represents a 6.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,851 shares of company stock valued at $8,579,369 over the last three months. Company insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

DOCU has been the topic of several recent research reports. Wells Fargo & Company raised their target price on shares of DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday, March 14th. William Blair raised shares of DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Citigroup increased their price target on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, March 14th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Finally, JMP Securities reissued a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $95.00.

DocuSign Stock Performance

Shares of DOCU stock opened at $83.18 on Friday. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The company’s 50 day moving average price is $87.18 and its two-hundred day moving average price is $81.17. The company has a market capitalization of $16.84 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 EPS. Analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current year.

DocuSign 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.