Burney Co. Grows Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Burney Co. grew its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 200,646 shares of the company's stock after acquiring an additional 7,364 shares during the period. Burney Co. owned 0.10% of DocuSign worth $18,046,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DOCU. State Street Corp increased its position in shares of DocuSign by 2.3% during the third quarter. State Street Corp now owns 5,372,939 shares of the company's stock valued at $333,604,000 after buying an additional 120,743 shares during the period. Pacer Advisors Inc. boosted its holdings in DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company's stock valued at $188,318,000 after purchasing an additional 1,541,816 shares during the period. Geode Capital Management LLC increased its holdings in shares of DocuSign by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company's stock worth $215,789,000 after purchasing an additional 53,554 shares during the period. Clearbridge Investments LLC raised its position in shares of DocuSign by 4.1% in the second quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company's stock worth $156,265,000 after buying an additional 115,616 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in DocuSign by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company's stock worth $141,398,000 after buying an additional 112,919 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 value of $543,091.80. Following the transaction, the chief executive officer now directly owns 107,825 shares of the company's stock, valued at approximately $7,542,358.75. This represents a 6.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel D. Springer sold 581,588 shares of DocuSign stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the sale, the director now directly owns 906,430 shares of the company's stock, valued at approximately $87,959,967.20. The trade was a 39.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 693,537 shares of company stock valued at $66,575,817 over the last quarter. Corporate insiders own 1.66% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on DOCU shares. Morgan Stanley boosted their price objective on DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a report on Friday, December 6th. JPMorgan Chase & Co. raised their price target on DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research report on Tuesday, December 3rd. Hsbc Global Res raised DocuSign to a "moderate sell" rating in a report on Friday, December 6th. Jefferies Financial Group lifted their price target on shares of DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Finally, HSBC reaffirmed a "reduce" rating on shares of DocuSign in a research note on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $92.45.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $91.30 on Wednesday. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The firm has a market capitalization of $18.44 billion, a P/E ratio of 18.82, a P/E/G ratio of 8.70 and a beta of 0.88. The stock has a 50 day moving average price of $87.95 and a 200-day moving average price of $69.61.

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.

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