Kestra Investment Management LLC Purchases New Stake in DocuSign, Inc. (NASDAQ:DOCU)

Kestra Investment Management LLC acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, Holdings Channel reports. The fund acquired 329 shares of the company’s stock, valued at approximately $30,000.

A number of other hedge funds have also recently bought and sold shares of DOCU. KBC Group NV boosted its holdings in DocuSign by 209.8% during the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock worth $71,830,000 after acquiring an additional 783,419 shares during the last quarter. Fiera Capital Corp purchased a new position in DocuSign during the 4th quarter worth $47,920,000. Principal Financial Group Inc. boosted its holdings in DocuSign by 3,026.7% during the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock worth $49,179,000 after acquiring an additional 529,308 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in DocuSign by 42.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock worth $90,625,000 after acquiring an additional 434,312 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after acquiring an additional 431,295 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Price Performance

DocuSign stock opened at $83.96 on Friday. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The firm has a market capitalization of $16.96 billion, a P/E ratio of 17.31, a PEG ratio of 6.94 and a beta of 0.89. The business has a fifty day moving average price of $91.73 and a 200-day moving average price of $76.50.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of recent analyst reports. Citigroup lifted their target price on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Tuesday, February 4th. Piper Sandler increased their target price on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. increased their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and a consensus target price 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 sale, the director now owns 7,736 shares of the company’s stock, valued at approximately $731,825.60. This trade represents a 6.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the transaction, the chief executive officer now owns 100,062 shares in the company, valued at $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 have sold a total of 693,773 shares of company stock worth $66,727,926 over the last ninety days. Company insiders own 1.66% of the company’s stock.

About DocuSign

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.