Aspen Investment Management Inc Grows Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Aspen Investment Management Inc boosted its position in DocuSign, Inc. (NASDAQ:DOCU) by 258.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,375 shares of the company’s stock after buying an additional 9,640 shares during the period. Aspen Investment Management Inc’s holdings in DocuSign were worth $1,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of DOCU. State Street Corp lifted its stake in shares of DocuSign by 2.3% in the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after acquiring an additional 120,743 shares during the period. Geode Capital Management LLC increased its stake in shares of DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after acquiring an additional 53,554 shares during the period. Thrivent Financial for Lutherans raised its holdings in DocuSign by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock worth $141,398,000 after purchasing an additional 112,919 shares in the last quarter. FMR LLC lifted its position in 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 purchasing an additional 315,073 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in DocuSign by 14.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company’s stock valued at $103,030,000 after purchasing an additional 208,813 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Trading Down 0.6 %

NASDAQ:DOCU opened at $86.20 on Friday. The company 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 firm has a 50-day moving average price of $92.10 and a two-hundred day moving average price of $76.20. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86.

Analysts Set New Price Targets

Several equities analysts have issued reports on DOCU shares. JMP Securities reiterated a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research report on Tuesday, January 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. Piper Sandler raised their target price on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Morgan Stanley upped their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Tuesday, February 4th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $92.45.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $94.60, for a total value of $50,516.40. Following the sale, the director now directly owns 7,736 shares in the company, valued at $731,825.60. This represents a 6.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of DocuSign 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 sale, the chief executive officer now owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 693,773 shares of company stock worth $66,727,926 over the last ninety days. 1.66% of the stock is currently owned by insiders.

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.