United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Buys New Position in DocuSign, Inc. (NASDAQ:DOCU)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,200 shares of the company’s stock, valued at approximately $558,000.

Several other hedge funds also recently made changes to their positions in DOCU. Meiji Yasuda Asset Management Co Ltd. grew its position in DocuSign by 64.7% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 16,873 shares of the company’s stock valued at $1,518,000 after purchasing an additional 6,631 shares in the last quarter. FineMark National Bank & Trust acquired a new position in shares of DocuSign during the 4th quarter worth about $210,000. Corebridge Financial Inc. grew its holdings in shares of DocuSign by 5,847.3% in the 4th quarter. Corebridge Financial Inc. now owns 232,005 shares of the company’s stock valued at $20,867,000 after acquiring an additional 228,104 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of DocuSign in the fourth quarter valued at about $1,193,000. Finally, Stevens Capital Management LP bought a new stake in DocuSign during the fourth quarter worth about $253,000. 77.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on DOCU. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. William Blair upgraded shares of DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Piper Sandler upped their price target on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. UBS Group decreased their price objective on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Finally, Citigroup boosted their price objective on shares of DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $95.00.

Insiders Place Their Bets

In other news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the sale, the chief executive officer now owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,851 shares of company stock worth $8,579,369 in the last quarter. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Stock Up 0.4 %

Shares of NASDAQ:DOCU opened at $89.39 on Wednesday. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The business has a 50 day moving average of $87.50 and a 200-day moving average of $80.91. The stock has a market cap of $18.10 billion, a PE ratio of 18.43, a P/E/G ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm earned $0.76 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. Equities research analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current year.

About DocuSign

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.