Intellectus Partners LLC Trims Stake in DocuSign, Inc. (NASDAQ:DOCU)

Intellectus Partners LLC reduced its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 17.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,577 shares of the company’s stock after selling 1,400 shares during the period. Intellectus Partners LLC’s holdings in DocuSign were worth $592,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DOCU. KBC Group NV increased its holdings in DocuSign by 209.8% during the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after buying an additional 783,419 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in DocuSign by 61.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock valued at $150,525,000 after buying an additional 637,505 shares during the last quarter. Fiera Capital Corp purchased a new stake in shares of DocuSign in the fourth quarter worth $47,920,000. Principal Financial Group Inc. increased its stake in shares of DocuSign by 3,026.7% in the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock worth $49,179,000 after purchasing an additional 529,308 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of DocuSign by 42.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock worth $90,625,000 after purchasing an additional 434,312 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DOCU. Morgan Stanley increased their price objective 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. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Tuesday, February 4th. UBS Group increased their price objective on shares of DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. Three 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $92.45.

DocuSign Stock Up 0.1 %

DOCU stock opened at $79.83 on Friday. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The company has a fifty day simple moving average of $89.05 and a two-hundred day simple moving average of $78.60. The firm has a market capitalization of $16.13 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

Insider Buying and Selling at DocuSign

In other DocuSign news, insider Robert Chatwani sold 14,800 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the completion of the transaction, the insider now owns 73,414 shares in the company, valued at $7,176,952.64. This trade represents a 16.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the transaction, the chief financial officer now owns 77,851 shares of the company’s stock, 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 worth $66,102,694 over the last 90 days. 1.66% of the stock is 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.