PGGM Investments Purchases 31,827 Shares of DocuSign, Inc. (NASDAQ:DOCU)

PGGM Investments boosted its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 44.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,885 shares of the company's stock after buying an additional 31,827 shares during the quarter. PGGM Investments owned approximately 0.05% of DocuSign worth $9,253,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new position in shares of DocuSign during the third quarter valued at $28,000. Kestra Investment Management LLC acquired a new stake in DocuSign in the fourth quarter valued at $30,000. Brooklyn Investment Group bought a new position in DocuSign during the 3rd quarter worth $33,000. Modus Advisors LLC acquired a new position in DocuSign during the 4th quarter worth about $36,000. Finally, First Horizon Advisors Inc. grew its position 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 buying an additional 201 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 15,588 shares of the company's stock in a transaction 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 transaction, the chief financial officer now owns 85,851 shares in the company, valued at approximately $8,394,510.78. This represents a 15.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.60, for a total transaction of $50,516.40. Following the transaction, the director now owns 7,736 shares of the company's stock, valued at $731,825.60. This represents a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,422 shares of company stock valued at $9,665,394. Company insiders own 1.66% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DOCU. Citigroup restated a "buy" rating on shares of DocuSign in a research report on Thursday, March 6th. HSBC reissued a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Jefferies Financial Group boosted their price target on shares of DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. UBS Group increased their price objective on shares of DocuSign from $60.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. raised shares of DocuSign from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $70.00 to $75.00 in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, DocuSign has a consensus rating of "Hold" and a consensus price target of $92.91.

Remove Ads

DocuSign Price Performance

Shares of DOCU opened at $80.13 on Thursday. The stock has a 50-day moving average of $88.37 and a 200-day moving average of $79.07. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The company has a market cap of $16.19 billion, a PE ratio of 16.52, a P/E/G ratio of 6.94 and a beta of 1.02.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.