QRG Capital Management Inc. Purchases 28,980 Shares of DocuSign, Inc. (NASDAQ:DOCU)

QRG Capital Management Inc. raised its position in DocuSign, Inc. (NASDAQ:DOCU) by 93.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,155 shares of the company’s stock after buying an additional 28,980 shares during the quarter. QRG Capital Management Inc.’s holdings in DocuSign were worth $5,410,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DOCU. Itau Unibanco Holding S.A. acquired a new stake in shares of DocuSign during the 3rd quarter worth approximately $28,000. Kestra Investment Management LLC bought a new stake in DocuSign during the fourth quarter worth $30,000. Brooklyn Investment Group acquired a new stake in shares of DocuSign in the 3rd quarter valued at $33,000. Modus Advisors LLC bought a new position in shares of DocuSign in the 4th quarter valued at $36,000. Finally, First Horizon Advisors Inc. increased its stake 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 purchasing an additional 201 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DOCU shares. 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 research report on Friday, December 6th. Wells Fargo & Company increased their target price on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Citigroup lifted 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. Jefferies Financial Group increased their price objective on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley raised their target price on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” 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 assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $92.45.

DocuSign Stock Up 2.3 %

Shares of DocuSign stock opened at $83.17 on Friday. The stock has a market cap of $16.80 billion, a price-to-earnings ratio of 17.15, a P/E/G ratio of 6.94 and a beta of 0.89. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The company’s fifty day moving average is $90.43 and its 200 day moving average is $77.57.

Insider Buying and Selling at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the transaction, the chief financial officer now owns 77,851 shares in the company, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.60, for a total transaction of $50,516.40. Following the completion of the sale, the director now directly owns 7,736 shares in the company, valued at approximately $731,825.60. This represents a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 693,773 shares of company stock worth $66,727,926. Insiders own 1.66% of the company’s stock.

DocuSign 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.