Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stake in DocuSign, Inc. (NASDAQ:DOCU)

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 17.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,200 shares of the company's stock after purchasing an additional 9,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in DocuSign were worth $5,504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. MONECO Advisors LLC acquired a new stake in shares of DocuSign in the 4th quarter valued at approximately $1,532,000. Wealthspire Advisors LLC boosted its stake in shares of DocuSign by 6.5% in the 4th quarter. Wealthspire Advisors LLC now owns 6,457 shares of the company's stock valued at $581,000 after purchasing an additional 394 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after purchasing an additional 201 shares in the last quarter. Sigma Planning Corp boosted its stake in shares of DocuSign by 48.4% in the 4th quarter. Sigma Planning Corp now owns 6,978 shares of the company's stock valued at $628,000 after purchasing an additional 2,275 shares in the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new stake in shares of DocuSign in the 4th quarter valued at approximately $307,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Stock Performance

NASDAQ DOCU traded up $1.89 during trading on Friday, hitting $83.17. 2,316,769 shares of the company's stock traded hands, compared to its average volume of 2,043,412. The stock has a market capitalization of $16.80 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 6.94 and a beta of 0.89. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The business has a 50 day moving average of $90.43 and a 200-day moving average of $77.57.

Wall Street Analyst Weigh In

DOCU has been the subject of several analyst reports. Hsbc Global Res upgraded shares of DocuSign to a "moderate sell" rating in a report on Friday, December 6th. Piper Sandler raised their price target on shares of DocuSign from $60.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 price target (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. Citigroup raised their price target on shares of DocuSign from $87.00 to $113.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Finally, Morgan Stanley raised their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a report on Friday, December 6th. Three 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. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $92.45.

Insider Buying and Selling at DocuSign

In related news, CEO Allan C. Thygesen sold 7,763 shares of the company's 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 transaction, the chief executive officer now directly owns 100,062 shares in the company, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel D. Springer sold 581,588 shares of the company's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the completion of the transaction, the director now owns 906,430 shares in the company, valued at approximately $87,959,967.20. This trade represents a 39.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 693,773 shares of company stock valued at $66,727,926 over the last three months. 1.66% of the stock is currently owned by insiders.

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.