Rakuten Investment Management Inc. Buys New Shares in Docusign Inc. $DOCU

Rakuten Investment Management Inc. purchased a new position in shares of Docusign Inc. (NASDAQ:DOCU) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 74,002 shares of the company’s stock, valued at approximately $5,335,000.

A number of other hedge funds also recently made changes to their positions in DOCU. Oak Family Advisors LLC raised its holdings in shares of Docusign by 37.2% in the 2nd quarter. Oak Family Advisors LLC now owns 95,134 shares of the company’s stock worth $7,410,000 after purchasing an additional 25,795 shares during the period. Baird Financial Group Inc. grew its holdings in shares of Docusign by 927.2% during the 2nd quarter. Baird Financial Group Inc. now owns 124,145 shares of the company’s stock worth $9,670,000 after purchasing an additional 112,059 shares during the period. Nordea Investment Management AB grew its holdings in shares of Docusign by 3.6% during the 3rd quarter. Nordea Investment Management AB now owns 1,154,824 shares of the company’s stock worth $87,316,000 after purchasing an additional 40,432 shares during the period. Vise Technologies Inc. acquired a new stake in Docusign during the 2nd quarter worth approximately $436,000. Finally, QRG Capital Management Inc. raised its holdings in Docusign by 6.6% in the second quarter. QRG Capital Management Inc. now owns 70,583 shares of the company’s stock valued at $5,498,000 after buying an additional 4,341 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Stock Up 2.6%

Shares of NASDAQ DOCU opened at $57.50 on Friday. Docusign Inc. has a fifty-two week low of $55.46 and a fifty-two week high of $99.30. The business has a 50 day moving average price of $66.59 and a two-hundred day moving average price of $71.85. The firm has a market cap of $11.52 billion, a PE ratio of 40.21, a price-to-earnings-growth ratio of 2.76 and a beta of 0.99.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Docusign in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on Docusign from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Evercore ISI decreased their target price on Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, December 5th. Zacks Research lowered Docusign from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Finally, JMP Securities reiterated a “market outperform” rating and set a $124.00 target price on shares of Docusign in a report on Friday, October 3rd. Six analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Docusign currently has a consensus rating of “Hold” and a consensus target price of $85.13.

Insiders Place Their Bets

In other Docusign news, insider James P. Shaughnessy sold 12,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $67.03, for a total transaction of $804,360.00. Following the completion of the transaction, the insider directly owned 54,550 shares of the company’s stock, valued at $3,656,486.50. This trade represents a 18.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Blake Jeffrey Grayson sold 6,500 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $70.00, for a total transaction of $455,000.00. Following the completion of the sale, the chief financial officer owned 111,713 shares in the company, valued at approximately $7,819,910. This trade represents a 5.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 78,292 shares of company stock valued at $5,374,260. 1.01% of the stock is owned by insiders.

Docusign Company Profile

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.