Korea Investment CORP Buys 70,606 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Korea Investment CORP raised its stake in DocuSign, Inc. (NASDAQ:DOCU) by 46.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 223,591 shares of the company’s stock after purchasing an additional 70,606 shares during the period. Korea Investment CORP owned approximately 0.11% of DocuSign worth $20,110,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in DOCU. Itau Unibanco Holding S.A. acquired a new stake in DocuSign during the third quarter worth about $28,000. Kestra Investment Management LLC bought a new stake in shares of DocuSign in the 4th quarter worth approximately $30,000. Brooklyn Investment Group bought a new stake in shares of DocuSign during the third quarter valued at approximately $33,000. Modus Advisors LLC acquired a new position in shares of DocuSign in the fourth quarter valued at $36,000. Finally, First Horizon Advisors Inc. raised its stake in shares of DocuSign by 102.6% in 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. Institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

DOCU has been the topic of several analyst reports. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Wedbush reissued a “neutral” rating and issued a $100.00 price target on shares of DocuSign in a research report on Friday, March 14th. William Blair raised DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Citigroup increased their target price on DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Finally, Robert W. Baird set a $93.00 price target on DocuSign in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling

In other DocuSign news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the sale, the director now owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were 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 directly owns 156,050 shares in the company, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,851 shares of company stock valued at $8,579,369 over the last ninety days. Insiders own 1.66% of the company’s stock.

DocuSign Stock Down 2.9 %

Shares of NASDAQ:DOCU opened at $83.18 on Friday. The firm has a market cap of $16.84 billion, a P/E ratio of 17.15, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The company’s 50-day moving average price is $87.18 and its two-hundred day moving average price is $81.36.

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