Perpetual Ltd Invests $297,000 in DocuSign, Inc. (NASDAQ:DOCU)

Perpetual Ltd bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 3,298 shares of the company’s stock, valued at approximately $297,000.

Several other institutional investors and hedge funds have also made changes to their positions in DOCU. State Street Corp raised its holdings in shares of DocuSign by 2.3% in the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after acquiring an additional 120,743 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of DocuSign by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after acquiring an additional 53,554 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of DocuSign by 4.1% in the second quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company’s stock valued at $156,265,000 after acquiring an additional 115,616 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of DocuSign by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock valued at $141,398,000 after acquiring an additional 112,919 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of DocuSign by 16.8% in the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock valued at $136,156,000 after acquiring an additional 315,073 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DOCU has been the subject of several recent research reports. UBS Group lifted their price objective on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Morgan Stanley boosted their target price on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. HSBC reiterated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. 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 report on Friday, December 6th. Finally, Robert W. Baird boosted their target price on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and a consensus price target of $92.45.

Insider Transactions at DocuSign

In other DocuSign news, Director Daniel D. Springer sold 581,588 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total value of $56,437,299.52. Following the sale, the director now directly owns 906,430 shares of the company’s stock, valued at approximately $87,959,967.20. This represents a 39.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the transaction, the chief executive officer now owns 100,062 shares of the company’s stock, valued at $8,058,993.48. The trade was a 7.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 693,537 shares of company stock worth $66,575,817. Insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

Shares of DOCU stock opened at $90.54 on Friday. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The firm has a market capitalization of $18.29 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 8.26 and a beta of 0.88. The stock’s 50-day simple moving average is $89.31 and its 200-day simple moving average is $71.03.

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.