Alberta Investment Management Corp Buys New Position in Docusign Inc. $DOCU

Alberta Investment Management Corp purchased a new position in shares of Docusign Inc. (NASDAQ:DOCU) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,200 shares of the company’s stock, valued at approximately $879,000.

Other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB lifted its stake in shares of Docusign by 3.6% in the 3rd quarter. Nordea Investment Management AB now owns 1,154,824 shares of the company’s stock valued at $87,316,000 after purchasing an additional 40,432 shares during the period. Baird Financial Group Inc. raised its holdings in Docusign by 927.2% in the second quarter. Baird Financial Group Inc. now owns 124,145 shares of the company’s stock worth $9,670,000 after purchasing an additional 112,059 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in Docusign during the third quarter valued at $5,335,000. Vise Technologies Inc. purchased a new position in Docusign during the second quarter valued at $436,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Docusign by 3.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,594,884 shares of the company’s stock valued at $114,975,000 after buying an additional 47,331 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on DOCU. HSBC set a $53.00 price target on Docusign in a research report on Friday, February 13th. UBS Group lowered their price objective on Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Docusign in a research note on Wednesday, January 21st. Wells Fargo & Company lowered their price target on Docusign from $85.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, December 5th. Finally, Cantor Fitzgerald reiterated an “outperform” rating on shares of Docusign in a research note on Wednesday, December 17th. Six research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $82.80.

Docusign Price Performance

Shares of NASDAQ DOCU opened at $44.12 on Friday. The stock has a market cap of $8.84 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. Docusign Inc. has a 1 year low of $41.53 and a 1 year high of $94.67. The firm has a fifty day moving average price of $59.10 and a 200-day moving average price of $67.80.

Insider Buying and Selling

In other news, CEO Allan C. Thygesen sold 26,250 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $69.60, for a total value of $1,827,000.00. Following the completion of the sale, the chief executive officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 9,515 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $68.33, for a total transaction of $650,159.95. Following the completion of the sale, the chief financial officer owned 118,213 shares in the company, valued at $8,077,494.29. This represents a 7.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 78,292 shares of company stock valued at $5,374,260 over the last 90 days. 1.01% of the stock is owned by insiders.

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.