Meiji Yasuda Asset Management Co Ltd. Has $1.52 Million Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 64.7% in the fourth quarter, HoldingsChannel reports. The firm owned 16,873 shares of the company’s stock after purchasing an additional 6,631 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in DocuSign were worth $1,518,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DOCU. Itau Unibanco Holding S.A. bought a new position in shares of DocuSign during the 3rd quarter worth about $28,000. Kestra Investment Management LLC acquired a new position in DocuSign during the 4th quarter worth approximately $30,000. Brooklyn Investment Group bought a new position in DocuSign in the third quarter worth approximately $33,000. Modus Advisors LLC acquired a new stake in DocuSign in the fourth quarter valued at approximately $36,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after acquiring an additional 201 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DOCU shares. Jefferies Financial Group increased their target price on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price objective on shares of DocuSign in a report on Friday, March 14th. Bank of America lowered their target price on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Citigroup raised their price target on shares of DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Finally, Morgan Stanley boosted their price objective on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, DocuSign currently has an average rating of “Hold” and an average price target of $95.00.

DocuSign Price Performance

Shares of DocuSign stock opened at $86.91 on Thursday. The firm has a market cap of $17.60 billion, a PE ratio of 17.92, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The stock has a fifty day moving average price of $87.41 and a 200-day moving average price of $80.95.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 earnings per share. As a group, equities analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insider Transactions at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 40,000 shares of the firm’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 of the company’s stock, valued at $14,050,742. This trade represents a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, the chief financial officer now owns 77,851 shares in the company, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,851 shares of company stock worth $8,579,369 in the last quarter. Insiders own 1.66% of the company’s stock.

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.