Korea Investment CORP Acquires 70,606 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Korea Investment CORP grew its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 46.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 223,591 shares of the company’s stock after acquiring an additional 70,606 shares during the quarter. Korea Investment CORP’s holdings in DocuSign were worth $20,110,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new stake in DocuSign during the 3rd quarter worth approximately $28,000. Kestra Investment Management LLC bought a new stake in shares of DocuSign during the fourth quarter worth $30,000. Brooklyn Investment Group acquired a new stake in shares of DocuSign during the third quarter worth $33,000. Modus Advisors LLC bought a new stake in DocuSign in the 4th quarter valued at $36,000. Finally, First Horizon Advisors Inc. boosted its stake in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Buying and Selling at DocuSign

In related news, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the sale, the chief executive officer now directly owns 156,050 shares in the company, valued at $14,050,742. The trade was a 20.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total value of $676,275.00. Following the transaction, the insider now owns 43,781 shares in the company, valued at $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 a total of 97,851 shares of company stock worth $8,579,369 over the last ninety days. Insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DOCU. UBS Group dropped their price target on DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Morgan Stanley lifted their target price on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Jefferies Financial Group upped their price target on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company lifted their price objective on shares of DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a report on Friday, March 14th. Finally, JMP Securities restated a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $95.00.

DocuSign Stock Performance

DocuSign stock opened at $83.18 on Friday. The stock has a 50-day simple moving average of $87.18 and a 200 day simple moving average of $81.36. The stock has a market capitalization of $16.84 billion, a P/E ratio of 17.15, a PEG ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

DocuSign (NASDAQ:DOCU) last issued 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. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same period in the previous year, the company posted $0.76 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current year.

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.