FUKOKU MUTUAL LIFE INSURANCE Co Buys New Stake in DocuSign, Inc. (NASDAQ:DOCU)

FUKOKU MUTUAL LIFE INSURANCE Co purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,604 shares of the company’s stock, valued at approximately $234,000.

A number of other large investors also recently made changes to their positions in the business. Itau Unibanco Holding S.A. purchased a new position in shares of DocuSign in the 3rd quarter worth $28,000. Kestra Investment Management LLC acquired a new stake in DocuSign in the 4th quarter valued at $30,000. Brooklyn Investment Group acquired a new stake in DocuSign in the 3rd quarter valued at $33,000. Modus Advisors LLC acquired a new stake in DocuSign in the 4th quarter valued at $36,000. Finally, First Horizon Advisors Inc. increased its holdings in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after purchasing an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DOCU. JPMorgan Chase & Co. raised their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Morgan Stanley raised their price objective on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Citigroup raised their price objective on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and a consensus target price of $92.45.

DocuSign Stock Up 0.8 %

Shares of NASDAQ:DOCU opened at $82.28 on Thursday. The firm has a fifty day moving average of $90.91 and a two-hundred day moving average of $77.33. The firm has a market capitalization of $16.62 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 6.94 and a beta of 0.89. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86.

Insider Activity at DocuSign

In related news, Director Daniel D. Springer sold 581,588 shares of DocuSign stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the sale, the director now owns 906,430 shares of the company’s stock, valued at approximately $87,959,967.20. The trade was a 39.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the sale, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 693,773 shares of company stock valued at $66,727,926. Insiders own 1.66% of the company’s stock.

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.