Handelsbanken Fonder AB Reduces Position in DocuSign, Inc. (NASDAQ:DOCU)

Handelsbanken Fonder AB lessened its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 2.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 51,700 shares of the company’s stock after selling 1,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in DocuSign were worth $4,650,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in DocuSign during the 4th quarter worth approximately $30,000. Modus Advisors LLC purchased a new position in DocuSign during the 4th quarter worth approximately $36,000. Itau Unibanco Holding S.A. purchased a new position in DocuSign during the 3rd quarter worth approximately $28,000. Avion Wealth grew its stake in DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after buying an additional 368 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in DocuSign during the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of research reports. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Morgan Stanley lifted their target price on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Piper Sandler lifted their target price on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 target price (up from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Three investment 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 stock currently has a consensus rating of “Hold” and an average price target of $92.45.

Insider Activity

In related news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the completion of the transaction, the director now directly 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 document filed with the SEC, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the transaction, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 693,773 shares of company stock valued at $66,727,926 in the last three months. 1.66% of the stock is currently owned by company insiders.

DocuSign Price Performance

DOCU opened at $83.96 on Monday. The business has a 50 day simple moving average of $91.73 and a 200-day simple moving average of $76.87. The stock has a market capitalization of $16.96 billion, a P/E ratio of 17.31, a P/E/G ratio of 6.94 and a beta of 0.89. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

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.