Docusign Inc. $DOCU Stock Position Reduced by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lessened its stake in Docusign Inc. (NASDAQ:DOCU) by 50.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 26,294 shares of the company’s stock after selling 26,770 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Docusign were worth $1,896,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Gallacher Capital Management LLC increased its stake in shares of Docusign by 137.2% in the third quarter. Gallacher Capital Management LLC now owns 6,562 shares of the company’s stock worth $473,000 after acquiring an additional 3,795 shares during the last quarter. Machina Capital S.A.S. purchased a new position in Docusign in the third quarter valued at about $432,000. Envestnet Asset Management Inc. grew its stake in Docusign by 11.1% in the third quarter. Envestnet Asset Management Inc. now owns 312,859 shares of the company’s stock valued at $22,554,000 after purchasing an additional 31,334 shares in the last quarter. Hantz Financial Services Inc. increased its position in Docusign by 213.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,661 shares of the company’s stock worth $192,000 after purchasing an additional 1,813 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its position in Docusign by 2.1% during the third quarter. Allianz Asset Management GmbH now owns 201,104 shares of the company’s stock valued at $14,498,000 after acquiring an additional 4,168 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Trading Up 3.5%

Docusign stock opened at $47.13 on Monday. Docusign Inc. has a 1 year low of $45.00 and a 1 year high of $94.67. The firm has a market capitalization of $9.44 billion, a P/E ratio of 32.96, a PEG ratio of 2.06 and a beta of 1.00. The business has a 50-day moving average of $63.34 and a 200-day moving average of $69.75.

Insider Buying and Selling at Docusign

In other Docusign news, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $69.60, for a total transaction of $1,827,000.00. Following the transaction, the chief executive officer directly owned 142,261 shares in the company, valued at approximately $9,901,365.60. The trade was a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $67.05, for a total value of $402,300.00. Following the completion of the transaction, the executive owned 68,970 shares of the company’s stock, valued at $4,624,438.50. This represents a 8.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 78,292 shares of company stock worth $5,374,260 in the last three months. 1.01% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DOCU has been the topic of a number of recent analyst reports. Robert W. Baird cut their price objective on Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. BTIG Research started coverage on Docusign in a research report on Tuesday, December 16th. They issued a “buy” rating and a $88.00 price objective for the company. Zacks Research downgraded shares of Docusign from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. UBS Group dropped their target price on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Finally, Evercore cut their price objective on Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, December 5th. Six analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $85.13.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.