DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,700 shares of the company’s stock after selling 1,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in DocuSign were worth $4,650,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Toronto Dominion Bank grew its position in shares of DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after purchasing an additional 6,081 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in DocuSign by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after buying an additional 16,014 shares during the last quarter. International Assets Investment Management LLC increased its stake in DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after buying an additional 431,295 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of DocuSign by 39.5% during the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after acquiring an additional 57,104 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of DocuSign by 7.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock worth $80,501,000 after acquiring an additional 85,987 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

DocuSign stock opened at $83.96 on Monday. The firm has a 50 day simple moving average of $91.73 and a 200-day simple moving average of $76.87. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The stock has a market cap of $16.96 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 6.94 and a beta of 0.89.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on DOCU shares. JPMorgan Chase & Co. lifted their target price on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. UBS Group increased their price objective on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Tuesday, February 4th. Finally, Jefferies Financial Group increased their price objective on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $92.45.

Insider Activity

In related news, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total transaction of $676,275.00. Following the completion of the transaction, the insider now owns 43,781 shares of the company’s stock, valued at approximately $3,947,732.77. This trade represents a 14.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the transaction, the director now directly owns 7,736 shares of the company’s stock, valued at $731,825.60. The trade was a 6.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 693,773 shares of company stock valued at $66,727,926 in the last 90 days. Company 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.