Securian Asset Management Inc. Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Securian Asset Management Inc. bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,344 shares of the company’s stock, valued at approximately $1,380,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Toronto Dominion Bank lifted its position in shares of DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after acquiring an additional 6,081 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of DocuSign by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after acquiring an additional 16,014 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of DocuSign by 39.5% in the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after acquiring an additional 57,104 shares in the last quarter. Rhumbline Advisers lifted its position in shares of DocuSign by 118.8% in the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after acquiring an additional 330,136 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of DocuSign by 32.7% in the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after acquiring an additional 378,233 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Piper Sandler upped their price objective on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Wells Fargo & Company increased their target price on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research report on Friday. HSBC reiterated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 target price on shares of DocuSign in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, DocuSign has a consensus rating of “Hold” and a consensus target price of $95.58.

Insider Activity

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, the chief financial officer now owns 77,851 shares in the company, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the sale, the director now owns 7,736 shares of the company’s stock, valued at approximately $731,825.60. This trade represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,422 shares of company stock worth $9,665,394. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $85.76 on Friday. The firm has a market capitalization of $17.33 billion, a PE ratio of 17.68, a P/E/G ratio of 6.94 and a beta of 1.02. The business has a 50-day moving average of $87.97 and a two-hundred day moving average of $79.22. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 earnings per share. As a group, research analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current year.

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.