Nordea Investment Management AB Purchases 214,298 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Nordea Investment Management AB raised its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 35.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 819,221 shares of the company’s stock after buying an additional 214,298 shares during the quarter. Nordea Investment Management AB owned 0.41% of DocuSign worth $74,131,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in DOCU. Itau Unibanco Holding S.A. bought a new stake in shares of DocuSign in the 3rd quarter valued at approximately $28,000. Brooklyn Investment Group bought a new stake in DocuSign in the third quarter valued at $33,000. Modus Advisors LLC acquired a new position in DocuSign during the fourth quarter worth $36,000. Reston Wealth Management LLC bought a new position in shares of DocuSign during the third quarter valued at $47,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of DocuSign in the 3rd quarter valued at $51,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Price Performance

Shares of NASDAQ DOCU opened at $88.26 on Wednesday. The company’s 50 day simple moving average is $85.99 and its 200 day simple moving average is $68.29. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The firm has a market capitalization of $17.83 billion, a P/E ratio of 18.20, a P/E/G ratio of 8.72 and a beta of 0.88.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DOCU shares. JPMorgan Chase & Co. increased 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 Tuesday, December 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. HSBC reissued a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. UBS Group boosted their price objective on DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, December 6th. Three 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $92.45.

Insider Activity

In related news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total transaction of $676,275.00. Following the completion of the transaction, the insider now owns 43,781 shares in the company, valued at approximately $3,947,732.77. The trade was a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel D. Springer sold 581,588 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now directly owns 906,430 shares of the company’s stock, valued at $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 693,089 shares of company stock valued at $66,320,395 in the last 90 days. 1.66% of the stock is owned by company insiders.

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.