Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Holdings in Docusign Inc. $DOCU

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Docusign Inc. (NASDAQ:DOCU) by 14.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 201,728 shares of the company’s stock after purchasing an additional 25,317 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Docusign were worth $13,082,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division acquired a new position in Docusign during the fourth quarter worth $25,000. Torren Management LLC acquired a new stake in shares of Docusign in the fourth quarter valued at about $28,000. Aventura Private Wealth LLC purchased a new stake in shares of Docusign during the fourth quarter worth about $30,000. True Wealth Design LLC increased its stake in shares of Docusign by 105.2% during the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after purchasing an additional 222 shares in the last quarter. Finally, CX Institutional raised its position in shares of Docusign by 5,860.0% during the 3rd quarter. CX Institutional now owns 596 shares of the company’s stock worth $43,000 after purchasing an additional 586 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DOCU shares. BTIG Research reaffirmed a “buy” rating and issued a $70.00 price target on shares of Docusign in a research note on Wednesday, March 18th. JPMorgan Chase & Co. reduced their target price on Docusign from $78.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Royal Bank Of Canada decreased their target price on Docusign from $70.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 18th. Robert W. Baird dropped their price target on Docusign from $75.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Finally, Weiss Ratings downgraded Docusign from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 15th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $61.40.

Docusign Price Performance

DOCU opened at $47.90 on Monday. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88. The company’s 50 day simple moving average is $46.81 and its two-hundred day simple moving average is $57.17. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $94.67.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The business had revenue of $836.86 million during the quarter, compared to analyst estimates of $828.23 million. During the same period in the prior year, the business earned $0.86 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that Docusign Inc. will post 1.76 earnings per share for the current fiscal year.

Docusign announced that its board has authorized a stock repurchase plan on Tuesday, March 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to reacquire up to 21% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Docusign news, CEO Allan C. Thygesen sold 26,250 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $47.78, for a total value of $1,254,225.00. Following the completion of the sale, the chief executive officer directly owned 152,237 shares of the company’s stock, valued at $7,273,883.86. This trade represents a 14.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 16,696 shares of Docusign stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $48.10, for a total value of $803,077.60. Following the transaction, the insider owned 72,458 shares in the company, valued at approximately $3,485,229.80. This represents a 18.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 64,673 shares of company stock worth $3,077,699 over the last quarter. Corporate insiders own 1.66% of the company’s stock.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.