DocuSign, Inc. (NASDAQ:DOCU) Holdings Increased by Convergence Investment Partners LLC

Convergence Investment Partners LLC raised its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 8.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,061 shares of the company’s stock after acquiring an additional 3,284 shares during the quarter. DocuSign accounts for about 0.8% of Convergence Investment Partners LLC’s portfolio, making the stock its 27th biggest holding. Convergence Investment Partners LLC’s holdings in DocuSign were worth $3,783,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. KBC Group NV boosted its holdings in shares of DocuSign by 209.8% in the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock worth $71,830,000 after buying an additional 783,419 shares during the period. Fiera Capital Corp acquired a new position in DocuSign in the 4th quarter worth about $47,920,000. Principal Financial Group Inc. lifted its stake in DocuSign by 3,026.7% in the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock valued at $49,179,000 after acquiring an additional 529,308 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of DocuSign by 42.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock valued at $90,625,000 after purchasing an additional 434,312 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after acquiring an additional 431,295 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DOCU has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Jefferies Financial Group raised their price target on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upped their target price on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Wells Fargo & Company increased their target price on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Finally, Robert W. Baird lifted their target price on DocuSign from $59.00 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 issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $92.45.

DocuSign Stock Performance

DOCU stock opened at $87.34 on Wednesday. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The stock’s 50 day simple moving average is $92.44 and its 200 day simple moving average is $75.87. The company has a market cap of $17.64 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 7.56 and a beta of 0.89.

Insiders Place Their Bets

In other DocuSign news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the sale, the director now owns 7,736 shares of the company’s stock, valued at approximately $731,825.60. The trade was a 6.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 15,588 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total value of $1,524,194.64. Following the transaction, the chief financial officer now owns 85,851 shares of the company’s stock, valued at $8,394,510.78. The trade was a 15.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 693,773 shares of company stock valued at $66,727,926. Corporate 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.