Sumitomo Mitsui Financial Group Inc. Has $715,000 Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Sumitomo Mitsui Financial Group Inc. decreased its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 63.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,884 shares of the company's stock after selling 20,656 shares during the period. Sumitomo Mitsui Financial Group Inc.'s holdings in DocuSign were worth $715,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DOCU. Capital Analysts LLC boosted its stake in DocuSign by 781.7% during the fourth quarter. Capital Analysts LLC now owns 529 shares of the company's stock valued at $31,000 after buying an additional 469 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in DocuSign during the fourth quarter valued at approximately $32,000. Performa Ltd US LLC raised its position in DocuSign by 50.0% during the third quarter. Performa Ltd US LLC now owns 825 shares of the company's stock valued at $35,000 after purchasing an additional 275 shares during the period. Whittier Trust Co. raised its position in DocuSign by 28.8% during the fourth quarter. Whittier Trust Co. now owns 935 shares of the company's stock valued at $56,000 after purchasing an additional 209 shares during the period. Finally, Desjardins Global Asset Management Inc. raised its position in DocuSign by 60.5% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 966 shares of the company's stock valued at $57,000 after purchasing an additional 364 shares during the period. Institutional investors own 77.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DOCU. Wells Fargo & Company decreased their price objective on DocuSign from $55.00 to $45.00 and set an "underweight" rating on the stock in a research report on Monday, February 5th. Morgan Stanley upgraded DocuSign from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $49.00 to $64.00 in a research report on Tuesday, January 16th. 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. 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. Finally, Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $60.25.

Insider Transactions at DocuSign

In other news, insider Stephen Shute sold 15,109 shares of the firm's stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total value of $861,515.18. Following the completion of the sale, the insider now owns 8,959 shares of the company's stock, valued at approximately $510,842.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other DocuSign news, Director Peter Solvik sold 15,000 shares of DocuSign stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total transaction of $900,000.00. Following the completion of the sale, the director now owns 783 shares of the company's stock, valued at approximately $46,980. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Shute sold 15,109 shares of DocuSign stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total value of $861,515.18. Following the sale, the insider now directly owns 8,959 shares of the company's stock, valued at approximately $510,842.18. The disclosure for this sale can be found here. Insiders sold 55,277 shares of company stock valued at $3,159,756 in the last quarter. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Stock Performance

DOCU traded down $0.03 during trading on Tuesday, hitting $59.73. 1,522,320 shares of the stock were exchanged, compared to its average volume of 3,004,377. The firm has a 50 day simple moving average of $57.88 and a 200 day simple moving average of $54.15. The firm has a market cap of $12.27 billion, a price-to-earnings ratio of 166.31, a P/E/G ratio of 5.02 and a beta of 0.88. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its earnings results on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.06. The business had revenue of $712.39 million for the quarter, compared to analysts' expectations of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. As a group, equities analysts anticipate that DocuSign, Inc. will post 0.87 earnings per share for the current fiscal 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.