DocuSign, Inc. (NASDAQ:DOCU) Position Increased by Convergence Investment Partners LLC

Convergence Investment Partners LLC raised its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,061 shares of the company's stock after buying an additional 3,284 shares during the period. DocuSign makes up about 0.8% of Convergence Investment Partners LLC's holdings, making the stock its 27th biggest holding. Convergence Investment Partners LLC's holdings in DocuSign were worth $3,783,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC acquired a new stake in shares of DocuSign in the 4th quarter valued at about $30,000. Modus Advisors LLC acquired a new stake in shares of DocuSign in the 4th quarter valued at about $36,000. Itau Unibanco Holding S.A. acquired a new stake in shares of DocuSign in the 3rd quarter valued at about $28,000. Avion Wealth raised its stake in shares of DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company's stock valued at $43,000 after purchasing an additional 368 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of DocuSign in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 77.64% of the company's stock.

DocuSign Stock Down 2.6 %

NASDAQ DOCU traded down $2.24 on Friday, hitting $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 one year low of $48.70 and a one year high of $107.86. The stock has a market cap of $16.96 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 6.94 and a beta of 0.89. The company's 50-day moving average is $91.73 and its two-hundred day moving average is $76.50.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DOCU. UBS Group upped their target price on shares of DocuSign from $60.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research note on Tuesday, December 3rd. Jefferies Financial Group increased their price objective 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. JMP Securities reiterated a "market outperform" rating and set a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. Finally, Hsbc Global Res upgraded shares of DocuSign to a "moderate sell" rating in a research note 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $92.45.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the transaction, the chief executive officer now directly owns 100,062 shares in the company, valued at $8,058,993.48. This trade represents a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 15,588 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the completion of the transaction, the chief financial officer now owns 85,851 shares of the company's stock, valued at $8,394,510.78. This trade represents a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 693,773 shares of company stock worth $66,727,926. Insiders own 1.66% of the company's stock.

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.