Jennison Associates LLC Makes New $12.90 Million Investment in DocuSign, Inc. (NASDAQ:DOCU)

Jennison Associates LLC purchased a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 143,394 shares of the company’s stock, valued at approximately $12,897,000. Jennison Associates LLC owned approximately 0.07% of DocuSign at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. KBC Group NV increased its holdings in DocuSign by 209.8% in the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock worth $71,830,000 after buying an additional 783,419 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in DocuSign by 42.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock valued at $90,625,000 after acquiring an additional 434,312 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of DocuSign by 5,660.8% in the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after acquiring an additional 431,295 shares during the last quarter. FMR LLC increased its stake in shares of DocuSign by 16.8% in the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $136,156,000 after acquiring an additional 315,073 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of DocuSign by 211.4% during the third quarter. Victory Capital Management Inc. now owns 409,877 shares of the company’s stock worth $25,449,000 after purchasing an additional 278,252 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Stock Up 0.4 %

DOCU stock opened at $96.89 on Thursday. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The firm has a 50-day simple moving average of $91.77 and a 200-day simple moving average of $73.66. The stock has a market capitalization of $19.57 billion, a P/E ratio of 19.98, a P/E/G ratio of 8.74 and a beta of 0.89.

Analyst Upgrades and Downgrades

Several research firms have commented on DOCU. Jefferies Financial Group upped their price target on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Citigroup boosted their price target on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a report on Friday, December 6th. HSBC restated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Piper Sandler boosted their target price on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and an average target price of $92.45.

Insider Buying and Selling

In other news, Director Daniel D. Springer sold 581,588 shares of DocuSign stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total value of $56,437,299.52. Following the sale, the director now directly owns 906,430 shares of the company’s stock, valued at $87,959,967.20. The trade was a 39.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the transaction, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 685,773 shares of company stock worth $66,032,726. Insiders own 1.66% of the company’s stock.

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.