Andra AP fonden Sells 136,300 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Andra AP fonden decreased its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 29.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 321,500 shares of the company’s stock after selling 136,300 shares during the period. Andra AP fonden’s holdings in DocuSign were worth $28,916,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. State Street Corp grew its stake in shares of DocuSign by 2.3% during the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after acquiring an additional 120,743 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after acquiring an additional 53,554 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of DocuSign by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock worth $141,398,000 after acquiring an additional 112,919 shares during the last quarter. FMR LLC grew its stake in shares of DocuSign by 16.8% during the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $136,156,000 after acquiring an additional 315,073 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of DocuSign by 61.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock worth $150,525,000 after acquiring an additional 637,505 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In other news, Director Daniel D. Springer sold 581,588 shares of the company’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 completion of the transaction, the director now directly owns 906,430 shares of the company’s stock, valued at $87,959,967.20. This represents a 39.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the transaction, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 686,010 shares of company stock worth $66,102,694. Corporate insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their price target on DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Wells Fargo & Company upped their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $92.45.

DocuSign Trading Down 3.1 %

DocuSign stock opened at $79.77 on Friday. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The stock’s 50 day simple moving average is $89.32 and its two-hundred day simple moving average is $78.29. The firm has a market cap of $16.12 billion, a PE ratio of 16.45, 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.