Assenagon Asset Management S.A. Boosts Stake in DocuSign, Inc. (NASDAQ:DOCU)

Assenagon Asset Management S.A. grew its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 67.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 411,012 shares of the company's stock after purchasing an additional 165,797 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.20% of DocuSign worth $36,966,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Choreo LLC bought a new position in DocuSign during the 2nd quarter valued at approximately $242,000. DekaBank Deutsche Girozentrale boosted its stake in shares of DocuSign by 58.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 48,675 shares of the company's stock valued at $2,555,000 after purchasing an additional 17,984 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of DocuSign by 17.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,961 shares of the company's stock valued at $265,000 after buying an additional 741 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in DocuSign in the second quarter worth $1,709,000. Finally, Dimensional Fund Advisors LP grew its position in DocuSign by 14.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 610,728 shares of the company's stock valued at $32,671,000 after purchasing an additional 75,133 shares during the last quarter. Institutional investors own 77.64% of the company's stock.

Insider Activity

In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the sale, the chief executive officer now directly owns 107,825 shares in the company, valued at $7,542,358.75. This represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $94.77, for a total value of $758,160.00. Following the completion of the transaction, the chief financial officer now owns 101,439 shares of the company's stock, valued at approximately $9,613,374.03. This trade represents a 7.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 693,537 shares of company stock worth $66,575,817. 1.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on DOCU. UBS Group lifted their target price on DocuSign from $60.00 to $100.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. HSBC restated a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Citigroup boosted their target price on shares of DocuSign from $87.00 to $113.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Hsbc Global Res upgraded DocuSign to a "moderate sell" rating in a research report on Friday, December 6th. Finally, Jefferies Financial Group raised their target price on DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, DocuSign presently has an average rating of "Hold" and an average target price of $92.45.

DocuSign Trading Down 1.7 %

Shares of NASDAQ:DOCU traded down $1.56 during mid-day trading on Friday, reaching $89.60. The stock had a trading volume of 2,379,686 shares, compared to its average volume of 2,200,838. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The company has a market cap of $18.10 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 8.17 and a beta of 0.88. The business's 50 day moving average price is $88.76 and its 200 day moving average price is $70.15.

About DocuSign

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.