Optas LLC Purchases New Stake in DocuSign, Inc. (NASDAQ:DOCU)

Optas LLC acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,869 shares of the company’s stock, valued at approximately $258,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV boosted its position in shares of DocuSign by 209.8% in the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after acquiring an additional 783,419 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of DocuSign by 42.4% during 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 acquiring an additional 434,312 shares during the period. International Assets Investment Management LLC boosted its position in shares of DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after acquiring an additional 431,295 shares in the last quarter. FMR LLC increased its stake in shares of DocuSign by 16.8% in 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 during the last quarter. Finally, Victory Capital Management Inc. grew its position in DocuSign by 211.4% in the third quarter. Victory Capital Management Inc. now owns 409,877 shares of the company’s stock valued at $25,449,000 after acquiring an additional 278,252 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Insider Activity at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was 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 of the company’s stock, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel D. Springer sold 581,588 shares of the firm’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 sale, the director now directly owns 906,430 shares of the company’s stock, valued at approximately $87,959,967.20. This trade represents a 39.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 685,773 shares of company stock worth $66,032,726 in the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Tuesday. Piper Sandler upped their price objective on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. 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. UBS Group upped their price target on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research 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 company an “equal weight” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $92.45.

DocuSign Trading Down 0.0 %

Shares of DocuSign stock opened at $96.47 on Wednesday. The business has a 50-day moving average price of $91.54 and a two-hundred day moving average price of $73.38. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The company has a market cap of $19.49 billion, a P/E ratio of 19.89, a PEG ratio of 8.74 and a beta of 0.89.

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.