Park Avenue Securities LLC lifted its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 183.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,558 shares of the company's stock after purchasing an additional 6,832 shares during the quarter. Park Avenue Securities LLC's holdings in DocuSign were worth $950,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. KBC Group NV boosted its holdings in DocuSign by 209.8% in the third quarter. KBC Group NV now owns 1,156,874 shares of the company's stock worth $71,830,000 after acquiring an additional 783,419 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in DocuSign by 42.4% in 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 purchasing an additional 434,312 shares in the last quarter. International Assets Investment Management LLC grew its position in DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company's stock valued at $27,252,000 after purchasing an additional 431,295 shares during the last quarter. FMR LLC increased its stake in DocuSign by 16.8% during the 3rd quarter. FMR LLC now owns 2,192,885 shares of the company's stock valued at $136,156,000 after purchasing an additional 315,073 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in DocuSign in the second quarter worth about $16,248,000. Hedge funds and other institutional investors own 77.64% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. HSBC reissued a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Morgan Stanley lifted their target price on DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a report on Friday, December 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a report on Friday, December 6th. Jefferies Financial Group boosted their target price on DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Finally, Citigroup raised their price target on shares of DocuSign from $87.00 to $113.00 and gave the company a "buy" rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $92.45.
View Our Latest Stock Analysis on DOCU
DocuSign Stock Performance
Shares of DOCU stock traded up $1.70 during mid-day trading on Tuesday, reaching $91.30. 967,626 shares of the company's stock traded hands, compared to its average volume of 2,091,222. The firm has a market capitalization of $18.45 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 8.10 and a beta of 0.88. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The firm has a 50 day moving average price of $88.93 and a two-hundred day moving average price of $70.63.
Insider Buying and Selling at DocuSign
In related news, CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction on Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the transaction, the chief executive officer now owns 107,825 shares in the company, valued at approximately $7,542,358.75. The trade was a 6.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the sale, the director now owns 7,736 shares of the company's stock, valued at $731,825.60. The trade was a 6.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 693,537 shares of company stock valued at $66,575,817. Company insiders own 1.66% of the company's stock.
About DocuSign
(
Free Report)
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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