Rakuten Securities Inc. Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Rakuten Securities Inc. bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, Holdings Channel reports. The institutional investor bought 2,544 shares of the company’s stock, valued at approximately $151,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prosperity Wealth Management Inc. bought a new position in shares of DocuSign in the 4th quarter valued at $284,000. Desjardins Global Asset Management Inc. lifted its stake in shares of DocuSign by 60.5% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 966 shares of the company’s stock valued at $57,000 after acquiring an additional 364 shares during the last quarter. Capital Analysts LLC lifted its stake in shares of DocuSign by 781.7% in the 4th quarter. Capital Analysts LLC now owns 529 shares of the company’s stock valued at $31,000 after acquiring an additional 469 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of DocuSign by 90.7% in the 4th quarter. Mackenzie Financial Corp now owns 91,950 shares of the company’s stock valued at $5,466,000 after acquiring an additional 43,741 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of DocuSign by 9,284.4% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 39,039 shares of the company’s stock valued at $2,350,000 after acquiring an additional 38,623 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

DocuSign Trading Up 0.6 %

Shares of DocuSign stock opened at $58.06 on Thursday. The business has a 50-day moving average price of $55.69 and a two-hundred day moving average price of $51.99. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76. The company has a market cap of $11.93 billion, a P/E ratio of 161.28, a PEG ratio of 5.05 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.15 earnings per share 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 firm had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. Equities research analysts forecast that DocuSign, Inc. will post 0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $59.00 price target on shares of DocuSign in a research note on Friday, April 12th. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and increased their price target for the company from $48.00 to $62.00 in a research note on Friday, April 12th. Wells Fargo & Company dropped their price target on DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. Morgan Stanley upgraded DocuSign from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $49.00 to $64.00 in a research note on Tuesday, January 16th. Finally, Needham & Company LLC restated 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $60.25.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 7,680 shares of the 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 sale, the chief executive officer now directly owns 111,767 shares in the company, valued at approximately $6,847,964.09. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Stephen Shute sold 15,109 shares of the firm’s 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 completion of the sale, the insider now directly owns 8,959 shares in the company, valued at approximately $510,842.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,680 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $61.27, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 54,871 shares of company stock worth $3,176,199. Company insiders own 17.80% of the company’s stock.

DocuSign Company 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.