DocuSign, Inc. (NASDAQ:DOCU) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. grew its position in DocuSign, Inc. (NASDAQ:DOCU) by 72.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 32,979 shares of the company’s stock after acquiring an additional 13,816 shares during the period. Edgestream Partners L.P.’s holdings in DocuSign were worth $2,966,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Toronto Dominion Bank grew its stake in shares of DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after buying an additional 6,081 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of DocuSign by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after buying an additional 16,014 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of DocuSign by 39.5% in the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after buying an additional 57,104 shares in the last quarter. Rhumbline Advisers grew its stake in shares of DocuSign by 118.8% in the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after buying an additional 330,136 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of DocuSign by 32.7% in the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after buying an additional 378,233 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Price Performance

Shares of NASDAQ DOCU opened at $79.83 on Monday. The company has a market capitalization of $16.13 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The business has a 50-day moving average of $89.05 and a two-hundred day moving average of $78.75. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the sale, the chief executive officer now owns 156,050 shares in the company, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares in the company, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 686,010 shares of company stock valued at $66,102,694 in the last ninety days. Insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DOCU. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price objective (up from $57.00) on shares of DocuSign in a research note on Friday, December 6th. HSBC reiterated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Tuesday, February 4th. Morgan Stanley lifted their target price on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Three equities 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 company’s stock. According to data from MarketBeat, DocuSign currently has a consensus rating of “Hold” and a consensus target price of $92.45.

DocuSign Company 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.