MetLife Investment Management LLC Has $11.10 Million Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

MetLife Investment Management LLC increased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 863.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,375 shares of the company’s stock after buying an additional 110,568 shares during the period. MetLife Investment Management LLC’s holdings in DocuSign were worth $11,096,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of DocuSign by 178.2% during the fourth quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after purchasing an additional 3,908,139 shares in the last quarter. Invesco Ltd. lifted its holdings in DocuSign by 283.9% during the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock worth $310,048,000 after buying an additional 2,549,310 shares in the last quarter. Norges Bank bought a new position in DocuSign in the 4th quarter valued at $223,196,000. Arrowstreet Capital Limited Partnership boosted its position in DocuSign by 201.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock valued at $194,118,000 after buying an additional 1,442,639 shares during the last quarter. Finally, Amundi increased its stake in shares of DocuSign by 565.8% in the 4th quarter. Amundi now owns 1,379,575 shares of the company’s stock valued at $123,486,000 after buying an additional 1,172,368 shares during the period. Institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DOCU. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Thursday. HSBC upgraded shares of DocuSign from a “reduce” rating to a “hold” rating and set a $70.00 price target for the company in a research report on Friday, April 11th. Robert W. Baird set a $93.00 price objective on shares of DocuSign in a report on Friday, March 14th. Wedbush reaffirmed a “neutral” rating and set a $100.00 target price on shares of DocuSign in a report on Friday, March 14th. Finally, Bank of America cut their price target on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $93.08.

DocuSign Stock Performance

NASDAQ DOCU opened at $75.42 on Monday. The stock has a market cap of $15.27 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 6.94 and a beta of 1.20. The business has a 50 day simple moving average of $81.35 and a 200 day simple moving average of $83.38. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data 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. The company had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 earnings per share. On average, analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

Insider Buying and Selling at DocuSign

In other news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the transaction, the director now owns 8,270 shares of the company’s stock, valued at $722,880.70. This trade represents a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on Friday, February 14th. The shares were 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 position. The disclosure for this sale can be found here. Insiders have sold 55,851 shares of company stock valued at $4,607,439 in the last 90 days. 1.66% of the stock is currently owned by company insiders.

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.