Royal London Asset Management Ltd. Has $7.65 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Royal London Asset Management Ltd. increased its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,080 shares of the company’s stock after buying an additional 4,590 shares during the quarter. Royal London Asset Management Ltd.’s holdings in DocuSign were worth $7,652,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank grew its holdings in shares of DocuSign by 30.3% during the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after purchasing an additional 6,081 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in DocuSign by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after buying an additional 16,014 shares in the last quarter. Quantinno Capital Management LP increased its holdings in DocuSign by 39.5% in the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after buying an additional 57,104 shares during the period. Rhumbline Advisers raised its stake in shares of DocuSign by 118.8% in the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after buying an additional 330,136 shares in the last quarter. Finally, KBC Group NV boosted its holdings in DocuSign by 32.7% during the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after purchasing an additional 378,233 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DOCU has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. Piper Sandler boosted their target price on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Jefferies Financial Group increased their target price on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. UBS Group cut their price target on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, DocuSign presently has an average rating of “Hold” and a consensus target price of $95.00.

Insider Activity

In other DocuSign news, insider Robert Chatwani sold 15,706 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the transaction, the insider now directly owns 76,842 shares of the company’s stock, valued at approximately $6,392,485.98. This trade represents a 16.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the sale, the chief executive officer now owns 156,050 shares of the company’s stock, valued at $14,050,742. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,851 shares of company stock valued at $8,579,369. 1.66% of the stock is currently owned by insiders.

DocuSign Price Performance

Shares of DocuSign stock opened at $88.06 on Monday. The firm has a 50 day simple moving average of $87.54 and a 200 day simple moving average of $80.47. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The firm has a market cap of $17.79 billion, a P/E ratio of 18.16, a P/E/G ratio of 6.94 and a beta of 1.02.

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