Achmea Investment Management B.V. Lowers Position in DocuSign, Inc. (NASDAQ:DOCU)

Achmea Investment Management B.V. cut its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 22.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 203,378 shares of the company’s stock after selling 60,124 shares during the quarter. Achmea Investment Management B.V.’s holdings in DocuSign were worth $18,292,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vestcor Inc lifted its position in DocuSign by 215.6% during the fourth quarter. Vestcor Inc now owns 14,578 shares of the company’s stock valued at $1,311,000 after purchasing an additional 9,959 shares in the last quarter. Rakuten Securities Inc. lifted its position in DocuSign by 20.9% during the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock valued at $72,000 after purchasing an additional 138 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in DocuSign by 2.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 16,683 shares of the company’s stock valued at $1,500,000 after purchasing an additional 368 shares in the last quarter. Securian Asset Management Inc. purchased a new position in DocuSign during the fourth quarter valued at $1,380,000. Finally, Moors & Cabot Inc. purchased a new position in DocuSign during the fourth quarter valued at $237,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on DOCU. Jefferies Financial Group raised their price target on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. UBS Group boosted their price objective on DocuSign from $60.00 to $100.00 and gave the company a “neutral” 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. Piper Sandler boosted their price objective on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company boosted their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $92.91.

Insider Buying and Selling

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at $6,765,251.90. This represents a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter Solvik sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the sale, the director now owns 150,253 shares in the company, valued at approximately $13,712,088.78. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,422 shares of company stock worth $9,665,394. Corporate insiders own 1.66% of the company’s stock.

DocuSign Trading Up 0.8 %

NASDAQ:DOCU opened at $80.13 on Thursday. The company has a market capitalization of $16.19 billion, a P/E ratio of 16.52, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The business’s 50-day moving average is $88.37 and its 200 day moving average is $79.07.

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.