Envestnet Asset Management Inc. Increases Position in Docusign Inc. $DOCU

Envestnet Asset Management Inc. boosted its position in Docusign Inc. (NASDAQ:DOCU) by 11.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 312,859 shares of the company’s stock after acquiring an additional 31,334 shares during the quarter. Envestnet Asset Management Inc. owned 0.16% of Docusign worth $22,554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its position in shares of Docusign by 213.8% in the third quarter. Hantz Financial Services Inc. now owns 2,661 shares of the company’s stock valued at $192,000 after acquiring an additional 1,813 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Docusign by 2.1% in the third quarter. Allianz Asset Management GmbH now owns 201,104 shares of the company’s stock worth $14,498,000 after purchasing an additional 4,168 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Docusign by 8.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 15,482 shares of the company’s stock valued at $1,116,000 after purchasing an additional 1,217 shares during the period. State of Wyoming increased its holdings in Docusign by 15.9% during the 3rd quarter. State of Wyoming now owns 9,924 shares of the company’s stock valued at $715,000 after purchasing an additional 1,365 shares during the period. Finally, UMB Bank n.a. raised its position in Docusign by 93.7% during the 3rd quarter. UMB Bank n.a. now owns 3,486 shares of the company’s stock valued at $251,000 after purchasing an additional 1,686 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 26,250 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $69.60, for a total value of $1,827,000.00. Following the transaction, the chief executive officer directly owned 142,261 shares of the company’s stock, valued at approximately $9,901,365.60. This represents a 15.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $67.05, for a total value of $402,300.00. Following the completion of the sale, the executive directly owned 68,970 shares of the company’s stock, valued at approximately $4,624,438.50. The trade was a 8.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 78,292 shares of company stock worth $5,374,260 over the last 90 days. 1.01% of the stock is currently owned by company insiders.

Docusign Stock Performance

NASDAQ:DOCU opened at $44.82 on Friday. The firm has a market cap of $8.98 billion, a P/E ratio of 31.34, a P/E/G ratio of 1.91 and a beta of 1.00. Docusign Inc. has a fifty-two week low of $41.53 and a fifty-two week high of $94.67. The firm has a 50-day simple moving average of $61.01 and a two-hundred day simple moving average of $68.69.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Bank of America cut their price objective on Docusign from $102.00 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Docusign in a report on Wednesday, January 21st. Evercore reduced their price objective on shares of Docusign from $92.00 to $80.00 and set an “in-line” rating on the stock in a research report on Friday, December 5th. Wells Fargo & Company cut their target price on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, December 5th. Finally, Royal Bank Of Canada decreased their price target on shares of Docusign from $95.00 to $70.00 and set a “sector perform” rating for the company in a research note on Monday, January 5th. Six research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $84.00.

Docusign Profile

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.