Rakuten Investment Management Inc. Acquires Shares of 74,002 Docusign Inc. $DOCU

Rakuten Investment Management Inc. bought a new position in Docusign Inc. (NASDAQ:DOCU) in the 3rd quarter, HoldingsChannel reports. The fund bought 74,002 shares of the company’s stock, valued at approximately $5,335,000.

A number of other institutional investors have also made changes to their positions in DOCU. Oak Family Advisors LLC lifted its stake in Docusign by 37.2% during the second 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 last quarter. Baird Financial Group Inc. increased its stake in Docusign by 927.2% during the second quarter. Baird Financial Group Inc. now owns 124,145 shares of the company’s stock valued at $9,670,000 after purchasing an additional 112,059 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Docusign by 3.6% during the third 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. bought a new position in shares of Docusign in the 2nd quarter worth about $436,000. Finally, QRG Capital Management Inc. lifted its position in shares of Docusign by 6.6% in the 2nd quarter. QRG Capital Management Inc. now owns 70,583 shares of the company’s stock worth $5,498,000 after buying an additional 4,341 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Docusign Stock Up 2.6%

Shares of DOCU stock opened at $57.50 on Friday. The stock has a 50-day simple moving average of $66.59 and a 200 day simple moving average of $71.85. The stock has a market capitalization of $11.52 billion, a P/E ratio of 40.21, a P/E/G ratio of 2.76 and a beta of 0.99. Docusign Inc. has a fifty-two week low of $55.46 and a fifty-two week high of $99.30.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DOCU. JPMorgan Chase & Co. lowered their price objective on shares of Docusign from $80.00 to $78.00 and set a “neutral” 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 report on Monday, November 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Docusign in a report on Wednesday. Piper Sandler reduced their price objective on Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Finally, JMP Securities restated a “market outperform” rating and set a $124.00 price objective on shares of Docusign in a research note on Friday, October 3rd. Six equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to MarketBeat, Docusign has a consensus rating of “Hold” and an average price target of $85.13.

Insider Buying and Selling at Docusign

In related news, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $69.60, for a total value of $1,827,000.00. Following the completion of the transaction, the chief executive officer owned 142,261 shares in the company, valued at $9,901,365.60. This trade represents a 15.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert Chatwani sold 13,818 shares of Docusign stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total value of $944,183.94. Following the completion of the transaction, the insider directly owned 70,197 shares in the company, valued at $4,796,561.01. This represents a 16.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 78,292 shares of company stock valued at $5,374,260 over the last 90 days. 1.01% of the stock is owned by insiders.

Docusign 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.