DocuSign, Inc. (NASDAQ:DOCU) Holdings Cut by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,488 shares of the company’s stock after selling 219 shares during the period. Principal Financial Group Inc.’s holdings in DocuSign were worth $1,086,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. State Street Corp boosted its position in DocuSign by 2.3% during the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after purchasing an additional 120,743 shares during the last quarter. American Century Companies Inc. grew its stake in shares of DocuSign by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock valued at $219,318,000 after buying an additional 75,026 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after buying an additional 576,414 shares in the last quarter. Pacer Advisors Inc. increased its holdings in DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after buying an additional 1,541,816 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after acquiring an additional 53,554 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 target price (up from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Wells Fargo & Company boosted their price target on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Piper Sandler increased their price objective on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, UBS Group raised their price objective on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $92.45.

DocuSign Stock Down 0.2 %

Shares of DOCU stock opened at $90.21 on Friday. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The firm has a market cap of $18.22 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 8.72 and a beta of 0.92. The stock has a 50 day moving average of $85.19 and a 200-day moving average of $67.53.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the sale, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at $14,050,742. This trade represents a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $67.83, for a total value of $508,725.00. Following the completion of the transaction, the insider now directly owns 43,301 shares of the company’s stock, valued at approximately $2,937,106.83. This trade represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 700,589 shares of company stock valued at $66,829,120. 1.66% of the stock is owned by company insiders.

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.