Allspring Global Investments Holdings LLC Sells 4,893 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Allspring Global Investments Holdings LLC trimmed its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,795 shares of the company's stock after selling 4,893 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in DocuSign were worth $9,107,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOCU. KBC Group NV boosted its holdings in shares of DocuSign by 209.8% in the third quarter. KBC Group NV now owns 1,156,874 shares of the company's stock valued at $71,830,000 after acquiring an additional 783,419 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of DocuSign by 42.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company's stock valued at $90,625,000 after acquiring an additional 434,312 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of DocuSign by 5,660.8% in the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company's stock valued at $27,252,000 after acquiring an additional 431,295 shares during the period. Retirement Systems of Alabama grew its stake in shares of DocuSign by 219.3% in the 4th quarter. Retirement Systems of Alabama now owns 466,478 shares of the company's stock valued at $41,955,000 after purchasing an additional 320,383 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of DocuSign by 16.8% in the third quarter. FMR LLC now owns 2,192,885 shares of the company's stock valued at $136,156,000 after purchasing an additional 315,073 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on DOCU shares. JPMorgan Chase & Co. upped their price target on DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research note on Tuesday, December 3rd. UBS Group upped their price target on DocuSign from $60.00 to $100.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Jefferies Financial Group upped their price target on DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. HSBC reiterated a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Hsbc Global Res upgraded DocuSign to a "moderate sell" rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, DocuSign presently has an average rating of "Hold" and an average price target of $92.45.

Insider Transactions at DocuSign

In other news, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the transaction, the chief executive officer now owns 100,062 shares in the company, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the transaction, the director now owns 7,736 shares in the company, valued at $731,825.60. This represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 693,773 shares of company stock valued at $66,727,926 over the last three months. Company insiders own 1.66% of the company's stock.

DocuSign Price Performance

Shares of DOCU traded down $2.24 during midday trading on Friday, reaching $83.96. The stock had a trading volume of 1,974,777 shares, compared to its average volume of 1,923,247. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The firm's 50 day moving average price is $91.73 and its 200-day moving average price is $76.50. The company has a market capitalization of $16.96 billion, a P/E ratio of 17.31, a P/E/G ratio of 6.94 and a beta of 0.89.

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.