Meiji Yasuda Life Insurance Co significantly increased its stake in DocuSign, Inc. (NASDAQ:DOCU) by 158.3% during the fourth quarter, as revealed in the company’s latest disclosure with the Securities and Exchange Commission (SEC).
The insurance firm owned 15,176 shares of DocuSign stock after acquiring an additional 9,300 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in DocuSign were valued at $1,365,000 as of its most recent SEC filing.
Other institutional investors have also recently adjusted their positions in DocuSign. Rhumbline Advisers increased its stake by 118.8% in the fourth quarter, now owning 608,123 shares worth $54,695,000. KBC Group NV boosted its holdings by 32.7%, owning 1,535,107 shares valued at $138,067,000. Jennison Associates LLC and Everence Capital Management Inc. established new positions in DocuSign, worth approximately $12,897,000 and $720,000, respectively. Principal Financial Group Inc. significantly increased its holdings by 3,026.7%, now owning 546,796 shares valued at $49,179,000.
Institutional investors and hedge funds collectively own 77.64% of DocuSign’s stock. Recent analyst reports have adjusted their price targets for DOCU. Morgan Stanley lowered its price objective from $97.00 to $92.00 with an ‘equal weight’ rating. Wedbush maintained a ‘neutral’ rating with a $100.00 price target. Robert W. Baird set a $93.00 target price, while JPMorgan Chase & Co. upgraded DocuSign from ‘underweight’ to ‘neutral’ with a price target increase from $70.00 to $75.00. Hsbc Global Res upgraded the stock from ‘moderate sell’ to ‘hold’.
Analyst ratings for DocuSign are as follows: one sell rating, eleven hold ratings, and four buy ratings. The consensus rating is ‘Hold’ with a target price of $92.46. Insiders have sold 55,851 shares valued at $4,607,439 in the last 90 days, with Director Teresa Briggs and CFO Blake Jeffrey Grayson selling shares in recent transactions. Insiders own 1.66% of the company’s stock.
DocuSign’s stock opened at $80.85 on Friday, with a 12-month low of $48.70 and a high of $107.86. The company has a market capitalization of $16.37 billion and a PE ratio of 16.67. In its last quarterly earnings report, DocuSign exceeded analyst EPS estimates with $0.86 earnings per share on revenue of $776.25 million, a 9.0% year-over-year increase.
