Assenagon Asset Management S.A. Boosts Stock Position in Docusign Inc. $DOCU

Assenagon Asset Management S.A. increased its stake in Docusign Inc. (NASDAQ:DOCU) by 8.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 557,697 shares of the company’s stock after buying an additional 44,727 shares during the quarter. Assenagon Asset Management S.A. owned 0.28% of Docusign worth $40,204,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. HighTower Advisors LLC grew its position in shares of Docusign by 15.2% in the first quarter. HighTower Advisors LLC now owns 45,690 shares of the company’s stock valued at $3,719,000 after purchasing an additional 6,013 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Docusign by 5.1% in the 1st quarter. Raymond James Financial Inc. now owns 449,139 shares of the company’s stock worth $36,560,000 after purchasing an additional 21,640 shares during the period. Brooklyn Investment Group grew its holdings in Docusign by 24.9% during the 1st quarter. Brooklyn Investment Group now owns 702 shares of the company’s stock valued at $57,000 after buying an additional 140 shares in the last quarter. Korea Investment CORP grew its holdings in Docusign by 1.5% during the 1st quarter. Korea Investment CORP now owns 226,985 shares of the company’s stock valued at $18,477,000 after buying an additional 3,394 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Docusign by 372.5% during the first quarter. Wellington Management Group LLP now owns 1,826,949 shares of the company’s stock valued at $148,714,000 after buying an additional 1,440,269 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Activity

In other news, Director Anna Marrs sold 365 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $68.54, for a total value of $25,017.10. Following the completion of the transaction, the director owned 11,163 shares in the company, valued at $765,112.02. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert Chatwani sold 13,818 shares of Docusign stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $68.33, for a total transaction of $944,183.94. Following the transaction, the insider directly owned 70,197 shares of the company’s stock, valued at approximately $4,796,561.01. This trade represents a 16.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 87,542 shares of company stock worth $6,097,905. 1.01% of the stock is owned by company insiders.

Docusign Price Performance

DOCU opened at $69.40 on Friday. The stock’s 50 day simple moving average is $68.93 and its 200 day simple moving average is $74.18. The firm has a market cap of $13.90 billion, a price-to-earnings ratio of 48.53, a PEG ratio of 3.40 and a beta of 0.98. Docusign Inc. has a 1 year low of $63.41 and a 1 year high of $99.30.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DOCU shares. Piper Sandler decreased their price target on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. BTIG Research initiated coverage on Docusign in a research note on Tuesday. They issued a “buy” rating and a $88.00 target price on the stock. Citigroup raised their price target on Docusign from $110.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Robert W. Baird dropped their price target on Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Finally, UBS Group cut their price objective on Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Six research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $86.80.

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.