Asahi Life Asset Management CO. LTD. Has $434,000 Stake in DocuSign, Inc. (NASDAQ:DOCU)

Asahi Life Asset Management CO. LTD. decreased its position in DocuSign, Inc. (NASDAQ:DOCU) by 18.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,820 shares of the company’s stock after selling 1,070 shares during the period. Asahi Life Asset Management CO. LTD.’s holdings in DocuSign were worth $434,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp grew its position in DocuSign by 2.3% during the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after buying an additional 120,743 shares in the last quarter. Geode Capital Management LLC grew its position in DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after buying an additional 53,554 shares in the last quarter. Thrivent Financial for Lutherans grew its position in DocuSign by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock worth $141,398,000 after buying an additional 112,919 shares in the last quarter. FMR LLC grew its position in DocuSign by 16.8% during the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $136,156,000 after buying an additional 315,073 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in DocuSign by 61.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock worth $150,525,000 after buying an additional 637,505 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DOCU. Morgan Stanley increased their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. HSBC reissued a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Piper Sandler raised their target price on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Jefferies Financial Group raised their target price on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $92.45.

DocuSign Stock Performance

Shares of DOCU opened at $83.17 on Friday. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The stock has a market capitalization of $16.80 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 6.94 and a beta of 0.89. The stock has a fifty day moving average of $90.43 and a 200-day moving average of $77.74.

Insider Activity

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the transaction, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 7,763 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the transaction, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 693,773 shares of company stock worth $66,727,926. 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.