KLP Kapitalforvaltning AS Has $16.69 Million Stock Position in Docusign Inc. $DOCU

KLP Kapitalforvaltning AS lowered its position in shares of Docusign Inc. (NASDAQ:DOCU) by 14.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 231,500 shares of the company’s stock after selling 38,700 shares during the quarter. KLP Kapitalforvaltning AS owned 0.12% of Docusign worth $16,689,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in shares of Docusign by 36.4% in the first quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after purchasing an additional 2,457 shares in the last quarter. Fred Alger Management LLC purchased a new position in Docusign during the 1st quarter valued at about $256,000. Caxton Associates LLP purchased a new stake in shares of Docusign in the first quarter worth approximately $738,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Docusign by 18.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,028,505 shares of the company’s stock worth $165,120,000 after purchasing an additional 318,698 shares in the last quarter. Finally, Plato Investment Management Ltd boosted its holdings in shares of Docusign by 3.8% during the first quarter. Plato Investment Management Ltd now owns 8,581 shares of the company’s stock worth $706,000 after purchasing an additional 311 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Stock Up 0.3%

Shares of Docusign stock opened at $69.80 on Friday. Docusign Inc. has a 12-month low of $63.41 and a 12-month high of $99.30. The stock has a 50 day moving average price of $68.52 and a two-hundred day moving average price of $72.97. The stock has a market capitalization of $13.98 billion, a P/E ratio of 48.81, a PEG ratio of 3.43 and a beta of 0.99.

Insider Activity

In other news, Director James A. Beer sold 450 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $68.54, for a total value of $30,843.00. Following the sale, the director directly owned 14,478 shares of the company’s stock, valued at approximately $992,322.12. This trade represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James P. Shaughnessy sold 12,000 shares of Docusign stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $67.03, for a total value of $804,360.00. Following the completion of the transaction, the insider directly owned 54,550 shares in the company, valued at approximately $3,656,486.50. This represents a 18.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 45,542 shares of company stock worth $3,092,260. Insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Docusign from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Royal Bank Of Canada cut their price objective on Docusign from $95.00 to $70.00 and set a “sector perform” rating for the company in a report on Monday. Robert W. Baird lowered their target price on Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Wells Fargo & Company cut their price target on Docusign from $85.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, December 5th. Finally, Bank of America dropped their price objective on Docusign from $102.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Six equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Docusign presently has an average rating of “Hold” and an average price target of $85.13.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.