Aspen Investment Management Inc Buys 9,640 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Aspen Investment Management Inc increased its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 258.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,375 shares of the company's stock after acquiring an additional 9,640 shares during the quarter. Aspen Investment Management Inc's holdings in DocuSign were worth $1,203,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DOCU. KBC Group NV increased its stake in 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 purchasing an additional 783,419 shares in the last quarter. Fiera Capital Corp bought a new stake in DocuSign in the 4th quarter valued at about $47,920,000. Principal Financial Group Inc. raised its stake in DocuSign by 3,026.7% during the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company's stock worth $49,179,000 after buying an additional 529,308 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in DocuSign by 42.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company's stock worth $90,625,000 after buying an additional 434,312 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in DocuSign by 5,660.8% in the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company's stock worth $27,252,000 after acquiring an additional 431,295 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

DocuSign Stock Down 2.9 %

DOCU stock traded down $2.46 during midday trading on Tuesday, hitting $81.23. The company's stock had a trading volume of 1,399,123 shares, compared to its average volume of 2,019,095. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The stock has a market cap of $16.41 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 6.94 and a beta of 0.89. The stock's 50-day moving average price is $91.45 and its 200 day moving average price is $77.09.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DOCU. Hsbc Global Res upgraded DocuSign to a "moderate sell" rating in a report on Friday, December 6th. Piper Sandler boosted their price target on shares of DocuSign from $60.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Morgan Stanley boosted their target price on shares of DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a research report on Friday, December 6th. Wells Fargo & Company raised their price target on shares of DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research report on Friday, December 6th. Finally, UBS Group boosted their price objective on DocuSign from $60.00 to $100.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, DocuSign has a consensus rating of "Hold" and a consensus target price of $92.45.

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 7,763 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the transaction, the chief executive officer now directly owns 100,062 shares in the company, valued at $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel D. Springer sold 581,588 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the transaction, the director now directly owns 906,430 shares of the company's stock, valued at $87,959,967.20. This represents a 39.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 693,773 shares of company stock valued at $66,727,926. 1.66% of the stock is owned by insiders.

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.