Royal London Asset Management Ltd. Purchases 4,740 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Royal London Asset Management Ltd. increased its position in DocuSign, Inc. (NASDAQ:DOCUFree Report) by 6.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,287 shares of the company’s stock after buying an additional 4,740 shares during the quarter. Royal London Asset Management Ltd.’s holdings in DocuSign were worth $4,654,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Centaurus Financial Inc. boosted its holdings in shares of DocuSign by 7.7% during the fourth quarter. Centaurus Financial Inc. now owns 8,694 shares of the company’s stock worth $517,000 after purchasing an additional 622 shares during the period. V Square Quantitative Management LLC lifted its holdings in DocuSign by 71.1% in the 4th quarter. V Square Quantitative Management LLC now owns 2,265 shares of the company’s stock worth $135,000 after buying an additional 941 shares during the period. Quarry LP lifted its holdings in DocuSign by 177.9% in the 4th quarter. Quarry LP now owns 1,209 shares of the company’s stock worth $72,000 after buying an additional 774 shares during the period. Parkwood LLC grew its position in shares of DocuSign by 20.4% in the 4th quarter. Parkwood LLC now owns 5,990 shares of the company’s stock worth $356,000 after buying an additional 1,016 shares during the last quarter. Finally, Brandywine Managers LLC purchased a new position in shares of DocuSign during the fourth quarter valued at approximately $250,000. 77.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider James P. Shaughnessy sold 1,800 shares of DocuSign stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total value of $91,764.00. Following the completion of the transaction, the insider now owns 35,703 shares of the company’s stock, valued at approximately $1,820,138.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Teresa Briggs sold 499 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $54.92, for a total value of $27,405.08. Following the transaction, the director now directly owns 6,668 shares of the company’s stock, valued at approximately $366,206.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James P. Shaughnessy sold 1,800 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $50.98, for a total value of $91,764.00. Following the sale, the insider now owns 35,703 shares in the company, valued at $1,820,138.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,312 shares of company stock valued at $2,838,531. 1.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DOCU shares. Morgan Stanley dropped their price target on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. Piper Sandler cut their target price on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Bank of America reduced their price target on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. JMP Securities restated a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a report on Friday, June 7th. Finally, Royal Bank of Canada reduced their target price on DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a report on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $59.36.

Read Our Latest Research Report on DOCU

DocuSign Stock Performance

Shares of DocuSign stock traded down $0.34 during midday trading on Friday, hitting $50.84. The company had a trading volume of 1,873,704 shares, compared to its average volume of 3,079,265. The company has a 50 day moving average of $56.93 and a 200 day moving average of $56.49. The stock has a market capitalization of $10.41 billion, a P/E ratio of 97.77, a P/E/G ratio of 4.25 and a beta of 0.89. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76.

About DocuSign

(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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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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