Geode Capital Management LLC Has $215.79 Million Stake in DocuSign, Inc. (NASDAQ:DOCU)

Geode Capital Management LLC grew its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,483,184 shares of the company’s stock after purchasing an additional 53,554 shares during the period. Geode Capital Management LLC’s holdings in DocuSign were worth $215,789,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in DOCU. Thrivent Financial for Lutherans bought a new stake in shares of DocuSign during the 2nd quarter valued at $115,795,000. Pacer Advisors Inc. raised its stake in DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after purchasing an additional 1,541,816 shares in the last quarter. KBC Group NV lifted its position in DocuSign by 209.8% during the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock worth $71,830,000 after purchasing an additional 783,419 shares during the period. Renaissance Technologies LLC grew its stake in DocuSign by 18.3% during the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after buying an additional 576,414 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in DocuSign by 151.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock valued at $46,324,000 after buying an additional 521,292 shares during the period. 77.64% of the stock is owned by institutional investors.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 7,648 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total value of $477,770.56. Following the sale, the chief executive officer now owns 115,589 shares of the company’s stock, valued at $7,220,844.83. The trade was a 6.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel D. Springer sold 581,588 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the sale, the director now owns 906,430 shares in the company, valued at $87,959,967.20. The trade was a 39.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 651,184 shares of company stock worth $60,878,829 in the last quarter. 1.66% of the stock is owned by insiders.

DocuSign Trading Down 0.0 %

Shares of DOCU stock opened at $94.48 on Friday. The firm has a market capitalization of $19.09 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 8.72 and a beta of 0.92. The business’s 50-day moving average price is $78.04 and its 200-day moving average price is $63.38. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DOCU shares. Bank of America upped their price target on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. JPMorgan Chase & Co. lifted their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Jefferies Financial Group boosted their price target on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. JMP Securities raised their price objective on DocuSign from $108.00 to $124.00 and gave the company a “market outperform” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company boosted their target price on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Three equities 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 company. According to data from MarketBeat, DocuSign has an average rating of “Hold” and a consensus price target 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.