Edgestream Partners L.P. Raises Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Edgestream Partners L.P. lifted its stake in DocuSign, Inc. (NASDAQ:DOCU) by 72.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,979 shares of the company’s stock after buying an additional 13,816 shares during the quarter. Edgestream Partners L.P.’s holdings in DocuSign were worth $2,966,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of DOCU. KBC Group NV boosted its position in DocuSign by 209.8% during the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock worth $71,830,000 after purchasing an additional 783,419 shares in the last quarter. Bank of New York Mellon Corp boosted its position in 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 purchasing an additional 637,505 shares in the last quarter. Fiera Capital Corp purchased a new position in DocuSign during the fourth quarter worth approximately $47,920,000. Principal Financial Group Inc. boosted its position in DocuSign by 3,026.7% during the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock worth $49,179,000 after purchasing an additional 529,308 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in DocuSign by 42.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock worth $90,625,000 after purchasing an additional 434,312 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

NASDAQ:DOCU opened at $79.83 on Monday. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The stock has a market cap of $16.13 billion, a PE ratio of 16.46, a P/E/G ratio of 6.94 and a beta of 1.02. The stock has a 50 day moving average price of $89.05 and a 200 day moving average price of $78.75.

Wall Street Analyst Weigh In

DOCU has been the topic of a number of recent analyst reports. Citigroup increased their price target on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Tuesday, February 4th. Robert W. Baird raised their target price on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. UBS Group raised their target price on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company raised 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. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $92.45.

Insider Activity at DocuSign

In other DocuSign news, Director Daniel D. Springer sold 581,588 shares of the firm’s stock in a transaction 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 sale, the director now owns 906,430 shares of the company’s stock, valued at $87,959,967.20. This trade represents a 39.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $94.60, for a total value of $50,516.40. Following the sale, the director now directly owns 7,736 shares of the company’s stock, valued at approximately $731,825.60. This trade represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 686,010 shares of company stock valued at $66,102,694. 1.66% of the stock is currently owned by 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.