Baader Bank Aktiengesellschaft Sells 6,153 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Baader Bank Aktiengesellschaft trimmed its position in DocuSign, Inc. (NASDAQ:DOCU) by 50.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,011 shares of the company’s stock after selling 6,153 shares during the period. Baader Bank Aktiengesellschaft’s holdings in DocuSign were worth $541,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. State Street Corp boosted its stake in DocuSign by 2.3% during the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after buying an additional 120,743 shares during the period. Geode Capital Management LLC raised its holdings in shares of DocuSign by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after acquiring an additional 53,554 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of DocuSign by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock valued at $141,398,000 after acquiring an additional 112,919 shares during the last quarter. FMR LLC grew its holdings in shares of DocuSign by 16.8% during the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $136,156,000 after purchasing an additional 315,073 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of DocuSign by 14.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company’s stock worth $103,030,000 after purchasing an additional 208,813 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Stock Performance

Shares of DOCU stock opened at $95.85 on Friday. The company has a market capitalization of $19.36 billion, a P/E ratio of 19.76, a PEG ratio of 8.30 and a beta of 0.88. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The stock has a 50 day moving average price of $90.73 and a two-hundred day moving average price of $72.41.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research report on Tuesday, January 7th. UBS Group upped their target price on shares of DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Finally, Piper Sandler increased their price objective on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $92.45.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the transaction, the chief executive officer now owns 100,062 shares in the company, valued at $8,058,993.48. The trade was a 7.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel D. Springer sold 581,588 shares of the 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 completion of the sale, the director now owns 906,430 shares of the company’s stock, valued at approximately $87,959,967.20. This trade represents a 39.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 685,773 shares of company stock valued at $66,032,726 over the last three months. 1.66% of the stock is owned by company insiders.

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.