Nippon Life Global Investors Americas Inc. Buys New Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Nippon Life Global Investors Americas Inc. purchased a new position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 94,440 shares of the company's stock, valued at approximately $8,494,000.

Other hedge funds have also added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in shares of DocuSign during the fourth quarter valued at about $30,000. Modus Advisors LLC purchased a new position in shares of DocuSign during the fourth quarter valued at about $36,000. First Horizon Advisors Inc. increased its position in shares of DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after buying an additional 201 shares during the period. Bessemer Group Inc. increased its position in shares of DocuSign by 490.0% during the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company's stock valued at $42,000 after buying an additional 392 shares during the period. Finally, Avion Wealth increased its position in shares of DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company's stock valued at $43,000 after buying an additional 368 shares during the period. 77.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. William Blair reiterated an "outperform" rating on shares of DocuSign in a research report on Monday, April 21st. Royal Bank of Canada restated a "sector perform" rating and issued a $90.00 price objective on shares of DocuSign in a report on Friday, March 14th. Wedbush restated a "neutral" rating and issued a $100.00 price objective on shares of DocuSign in a report on Friday, March 14th. HSBC upgraded shares of DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 price objective on the stock in a report on Friday, April 11th. Finally, Robert W. Baird set a $93.00 price objective on shares of DocuSign in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, DocuSign has an average rating of "Hold" and a consensus target price of $92.46.

DocuSign Stock Performance

Shares of DOCU stock traded up $1.14 during mid-day trading on Friday, hitting $82.81. The company's stock had a trading volume of 1,051,319 shares, compared to its average volume of 2,747,533. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The business has a 50-day moving average price of $80.34 and a 200 day moving average price of $83.78. The stock has a market cap of $16.77 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $776.25 million during the quarter, compared to analysts' expectations of $760.94 million. During the same quarter in the previous year, the business earned $0.76 earnings per share. The company's revenue was up 9.0% on a year-over-year basis. Equities research analysts predict that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.41, for a total value 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 SEC, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the transaction, the insider now directly owns 76,842 shares in the company, valued at $6,392,485.98. The trade was a 16.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,851 shares of company stock valued at $4,607,439. 1.66% of the stock is owned by company insiders.

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.