QRG Capital Management Inc. Raises Position in DocuSign, Inc. (NASDAQ:DOCU)

QRG Capital Management Inc. raised its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 93.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,155 shares of the company's stock after purchasing an additional 28,980 shares during the period. QRG Capital Management Inc.'s holdings in DocuSign were worth $5,410,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Creative Planning raised its position in shares of DocuSign by 5.6% during the 3rd quarter. Creative Planning now owns 14,453 shares of the company's stock valued at $897,000 after buying an additional 766 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of DocuSign by 13.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,466 shares of the company's stock valued at $214,000 after buying an additional 413 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in DocuSign by 77.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,603 shares of the company's stock worth $907,000 after purchasing an additional 6,390 shares during the period. Nisa Investment Advisors LLC purchased a new position in DocuSign in the 3rd quarter worth $1,503,000. Finally, Pallas Capital Advisors LLC purchased a new position in DocuSign in the 3rd quarter worth $371,000. 77.64% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Daniel D. Springer sold 581,588 shares of DocuSign stock in a transaction dated 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 sale, the director now owns 906,430 shares of the company's stock, valued at approximately $87,959,967.20. The trade was a 39.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the sale, the chief executive officer now directly owns 156,050 shares in the company, valued at $14,050,742. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 686,010 shares of company stock valued at $66,102,694. Corporate insiders own 1.66% of the company's stock.

DocuSign Stock Down 1.8 %

Shares of DOCU traded down $1.47 during trading hours on Monday, reaching $81.70. 1,577,965 shares of the company traded hands, compared to its average volume of 2,031,790. The company's fifty day moving average price is $90.14 and its two-hundred day moving average price is $78.07. The company has a market capitalization of $16.51 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth 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.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Piper Sandler lifted their target price on shares of DocuSign from $60.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research report on Tuesday, February 4th. Wells Fargo & Company lifted their target price on shares of DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research report on Friday, December 6th. Morgan Stanley lifted 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. Finally, Robert W. Baird lifted their target price on shares of DocuSign from $59.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. 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. According to MarketBeat, the stock presently has an average rating of "Hold" and an average 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.