Sumitomo Mitsui Trust Holdings Inc. Has $27.95 Million Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 470,181 shares of the company’s stock after selling 9,079 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.23% of DocuSign worth $27,952,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of DocuSign by 440.0% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock worth $28,000 after purchasing an additional 220 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of DocuSign during the 4th quarter worth $32,000. Brown Brothers Harriman & Co. lifted its position in shares of DocuSign by 381.9% during the 1st quarter. Brown Brothers Harriman & Co. now owns 559 shares of the company’s stock worth $60,000 after buying an additional 443 shares during the last quarter. Tyler Stone Wealth Management bought a new stake in shares of DocuSign during the 2nd quarter worth $36,000. Finally, Quarry LP lifted its position in shares of DocuSign by 96.0% during the 1st quarter. Quarry LP now owns 737 shares of the company’s stock worth $43,000 after buying an additional 361 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at DocuSign

In other news, CEO Allan C. Thygesen sold 7,680 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $61.27, for a total transaction of $470,553.60. Following the completion of the transaction, the chief executive officer now directly owns 111,767 shares in the company, valued at $6,847,964.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Allan C. Thygesen sold 7,680 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $61.27, for a total transaction of $470,553.60. Following the completion of the sale, the chief executive officer now owns 111,767 shares of the company’s stock, valued at $6,847,964.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa Briggs sold 499 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total value of $26,442.01. Following the sale, the director now directly owns 6,169 shares of the company’s stock, valued at approximately $326,895.31. The disclosure for this sale can be found here. Insiders sold 54,871 shares of company stock worth $3,176,199 over the last ninety days. 17.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. JMP Securities restated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Friday, April 12th. Royal Bank of Canada restated a “sector perform” rating and set a $59.00 price objective on shares of DocuSign in a research report on Friday, April 12th. Morgan Stanley upgraded DocuSign from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $49.00 to $64.00 in a research report on Tuesday, January 16th. Wells Fargo & Company dropped their price objective on DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research report on Monday, February 5th. Finally, UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $48.00 to $62.00 in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $60.25.

DocuSign Price Performance

Shares of DOCU opened at $55.70 on Monday. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76. The company has a market capitalization of $11.44 billion, a price-to-earnings ratio of 154.73, a price-to-earnings-growth ratio of 4.87 and a beta of 0.89. The business has a 50-day moving average of $55.90 and a 200-day moving average of $52.27.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The company had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. As a group, sell-side analysts anticipate that DocuSign, Inc. will post 0.86 EPS for the current year.

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.