DocuSign, Inc. (NASDAQ:DOCU) Stock Position Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU – Free Report) by 3,026.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 546,796 shares of the company’s stock after purchasing an additional 529,308 shares during the period. Principal Financial Group Inc. owned approximately 0.27% of DocuSign worth $49,179,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. J.W. Cole Advisors Inc. grew its position in DocuSign by 4.7% in the fourth quarter. J.W. Cole Advisors Inc. now owns 8,321 shares of the company’s stock worth $748,000 after buying an additional 375 shares during the last quarter. Csenge Advisory Group boosted its stake in shares of DocuSign by 38.4% during the 4th quarter. Csenge Advisory Group now owns 4,905 shares of the company’s stock worth $441,000 after acquiring an additional 1,360 shares in the last quarter. Allworth Financial LP grew its holdings in shares of DocuSign by 31.5% in the 4th quarter. Allworth Financial LP now owns 977 shares of the company’s stock worth $90,000 after acquiring an additional 234 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of DocuSign during the fourth quarter worth $1,158,000. Finally, Principal Securities Inc. raised its position in shares of DocuSign by 52.4% during the fourth quarter. Principal Securities Inc. now owns 8,406 shares of the company’s stock worth $756,000 after purchasing an additional 2,890 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Down 0.6 %

DOCU opened at $86.20 on Friday. The firm has a market capitalization of $17.41 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 7.03 and a beta of 0.89. The stock’s 50 day moving average price is $92.10 and its two-hundred day moving average price is $76.20. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86.

Insider Buying and Selling at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Solvik sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $91.26, for a total value of $912,600.00. Following the transaction, the director now owns 150,253 shares of the company’s stock, valued at $13,712,088.78. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 693,773 shares of company stock valued at $66,727,926 in the last 90 days. 1.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on DOCU. Morgan Stanley increased their price target on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Piper Sandler increased their price target on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Tuesday, February 4th. HSBC reiterated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Hsbc Global Res raised DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $92.45.

Read Our Latest Research Report on DocuSign

DocuSign Company Profile

(Free Report)

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.

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