Nan Shan Life Insurance Co. Ltd. raised its position in DocuSign, Inc. (NASDAQ:DOCU) by 129.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 160,813 shares of the company’s stock after acquiring an additional 90,813 shares during the period. Nan Shan Life Insurance Co. Ltd.’s holdings in DocuSign were worth $35,749,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in DOCU. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of DocuSign by 45.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,187,468 shares of the company’s stock valued at $486,274,000 after buying an additional 680,641 shares during the last quarter. Jennison Associates LLC lifted its holdings in DocuSign by 36.1% during the fourth quarter. Jennison Associates LLC now owns 1,927,328 shares of the company’s stock worth $428,445,000 after acquiring an additional 511,088 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in DocuSign by 225.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,560,508 shares of the company’s stock worth $335,884,000 after acquiring an additional 1,081,552 shares during the period. Scge Management L.P. lifted its holdings in DocuSign by 26.1% during the third quarter. Scge Management L.P. now owns 845,000 shares of the company’s stock worth $181,878,000 after acquiring an additional 175,000 shares during the period. Finally, ARK Investment Management LLC lifted its holdings in DocuSign by 4,419.6% during the third quarter. ARK Investment Management LLC now owns 752,146 shares of the company’s stock worth $161,892,000 after acquiring an additional 735,504 shares during the period. 72.76% of the stock is owned by hedge funds and other institutional investors.
In related news, COO Scott V. Olrich sold 5,800 shares of the business’s stock in a transaction dated Wednesday, December 9th. The stock was sold at an average price of $225.79, for a total transaction of $1,309,582.00. Following the completion of the transaction, the chief operating officer now directly owns 254,654 shares in the company, valued at $57,498,326.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Loren Alhadeff sold 5,000 shares of the business’s stock in a transaction dated Friday, February 12th. The stock was sold at an average price of $258.85, for a total value of $1,294,250.00. Following the transaction, the executive now owns 89,696 shares of the company’s stock, valued at $23,217,809.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 401,983 shares of company stock valued at $92,923,362. 5.06% of the stock is owned by company insiders.
DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Wednesday, December 2nd. The company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.09. The company had revenue of $382.92 million during the quarter, compared to analysts’ expectations of $361.33 million. DocuSign had a negative return on equity of 30.14% and a negative net margin of 16.83%. The firm’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 earnings per share. As a group, equities research analysts forecast that DocuSign, Inc. will post -0.68 earnings per share for the current year.
DOCU has been the topic of a number of recent analyst reports. Robert W. Baird initiated coverage on DocuSign in a report on Monday, October 26th. They set an “outperform” rating and a $280.00 price target on the stock. JMP Securities lifted their price target on DocuSign from $261.00 to $276.00 and gave the stock an “outperform” rating in a report on Friday, December 4th. Needham & Company LLC lifted their price target on DocuSign from $240.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, December 4th. Zacks Investment Research lowered DocuSign from a “hold” rating to a “sell” rating in a report on Wednesday, February 17th. Finally, Royal Bank of Canada lifted their price target on DocuSign from $275.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, December 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $268.05.
DocuSign, Inc provides cloud based software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It also offers DocuSign CLM, which automates workflows across the entire agreement process; Intelligent Insights that use artificial intelligence to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; and Negotiate for Salesforce that supports for approvals, document comparisons, and version control.
See Also: Buy-Side Analysts
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