Forsta AP Fonden Has $9.39 Million Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Forsta AP Fonden reduced its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 20.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,400 shares of the company's stock after selling 26,800 shares during the quarter. Forsta AP Fonden owned about 0.05% of DocuSign worth $9,390,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DOCU. Itau Unibanco Holding S.A. acquired a new position in DocuSign during the 3rd quarter valued at about $28,000. Brooklyn Investment Group bought a new stake in shares of DocuSign during the third quarter worth approximately $33,000. Modus Advisors LLC bought a new stake in shares of DocuSign during the fourth quarter worth approximately $36,000. Reston Wealth Management LLC acquired a new position in DocuSign in the third quarter valued at approximately $47,000. Finally, Avior Wealth Management LLC boosted its stake in DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock valued at $49,000 after acquiring an additional 145 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Insider Activity at DocuSign

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 transaction of $625,232.02. Following the sale, the chief executive officer now directly owns 100,062 shares of the company's stock, valued at $8,058,993.48. The trade was a 7.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter Solvik sold 10,000 shares of the company's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $91.26, for a total value of $912,600.00. Following the sale, the director now owns 150,253 shares in the company, valued at $13,712,088.78. The trade was a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 685,773 shares of company stock valued at $66,032,726. 1.66% of the stock is owned by insiders.

DocuSign Price Performance

Shares of DOCU traded up $0.01 during midday trading on Monday, hitting $96.74. The stock had a trading volume of 1,414,891 shares, compared to its average volume of 2,092,338. The firm has a market cap of $19.54 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 8.74 and a beta of 0.88. The company has a 50 day simple moving average of $91.32 and a two-hundred day simple moving average of $73.08. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DOCU shares. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a research note on Friday, December 6th. Wells Fargo & Company increased their target price on DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research note on Friday, December 6th. UBS Group boosted their target price on DocuSign from $60.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Piper Sandler increased their price target on shares of DocuSign from $60.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Finally, JMP Securities reissued a "market outperform" rating and set a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $92.45.

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.