Forsta AP Fonden Decreases Position in DocuSign, Inc. (NASDAQ:DOCU)

Forsta AP Fonden decreased its stake in DocuSign, Inc. (NASDAQ:DOCU) by 20.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 104,400 shares of the company’s stock after selling 26,800 shares during the period. Forsta AP Fonden’s holdings in DocuSign were worth $9,390,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of DOCU. Toronto Dominion Bank grew its position in DocuSign by 30.3% in the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after acquiring an additional 6,081 shares during the last quarter. Inspire Investing LLC bought a new position in shares of DocuSign in the third quarter worth about $911,000. Charles Schwab Investment Management Inc. increased its stake in DocuSign by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after buying an additional 16,014 shares during the period. International Assets Investment Management LLC increased its stake in DocuSign by 5,660.8% in the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after buying an additional 431,295 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in DocuSign by 39.5% during the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after buying an additional 57,104 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

Insider Activity at DocuSign

In other news, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the sale, the chief executive officer now owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Chatwani sold 14,800 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total value of $1,446,848.00. Following the transaction, the insider now directly owns 73,414 shares of the company’s stock, valued at $7,176,952.64. The trade was a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 685,773 shares of company stock valued at $66,032,726. 1.66% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DOCU shares. Morgan Stanley raised 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. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price objective (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, December 6th. UBS Group raised their price target on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $92.45.

DocuSign Price Performance

Shares of DocuSign stock opened at $95.85 on Friday. The stock has a market capitalization of $19.36 billion, a P/E ratio of 19.76, a PEG ratio of 8.30 and a beta of 0.88. The business has a 50 day simple moving average of $90.73 and a two-hundred day simple moving average of $72.41. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

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.