Generali Asset Management SPA SGR Invests $2.13 Million in DocuSign, Inc. (NASDAQ:DOCU)

Generali Asset Management SPA SGR purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 23,648 shares of the company’s stock, valued at approximately $2,127,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in shares of DocuSign in the 3rd quarter worth $28,000. Kestra Investment Management LLC purchased a new position in shares of DocuSign in the 4th quarter worth $30,000. Brooklyn Investment Group purchased a new position in DocuSign during the third quarter valued at $33,000. Modus Advisors LLC purchased a new position in DocuSign during the fourth quarter valued at $36,000. Finally, First Horizon Advisors Inc. lifted its position in DocuSign by 102.6% during the fourth 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. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DOCU has been the topic of several analyst reports. Piper Sandler lifted their target price on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Citigroup lifted their target price on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, March 14th. UBS Group lowered their target price on DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Morgan Stanley lifted their target price on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $70.00 to $75.00 in a research report on Monday, March 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Insider Transactions at DocuSign

In other news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total value of $676,275.00. Following the sale, the insider now directly owns 43,781 shares of the company’s stock, valued at approximately $3,947,732.77. The trade was a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the transaction, the chief executive officer now owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,034 shares of company stock valued at $5,932,352. 1.66% of the stock is currently owned by insiders.

DocuSign Trading Up 0.7 %

Shares of DOCU stock opened at $85.61 on Thursday. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The stock’s 50-day moving average price is $87.67 and its 200-day moving average price is $79.91. The stock has a market capitalization of $17.30 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

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

DocuSign 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.