Plato Investment Management Ltd Cuts Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Plato Investment Management Ltd lowered its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 65.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,270 shares of the company’s stock after selling 15,518 shares during the quarter. Plato Investment Management Ltd’s holdings in DocuSign were worth $747,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in DOCU. Toronto Dominion Bank boosted its stake in DocuSign by 30.3% during the 3rd 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 last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of DocuSign by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after purchasing an additional 16,014 shares in the last quarter. Quantinno Capital Management LP boosted its position 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 buying an additional 57,104 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in DocuSign by 7.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock worth $80,501,000 after buying an additional 85,987 shares in the last quarter. Finally, Rhumbline Advisers raised its position in DocuSign by 118.8% in the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock worth $54,695,000 after buying an additional 330,136 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DOCU. JPMorgan Chase & Co. lifted their price target 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. Citigroup lifted their target price on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Robert W. Baird boosted their target price on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Finally, HSBC reiterated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $92.45.

DocuSign Trading Up 0.4 %

NASDAQ DOCU opened at $82.06 on Wednesday. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The stock has a market cap of $16.58 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 6.94 and a beta of 0.89. The company’s 50 day moving average is $89.89 and its two-hundred day moving average is $78.25.

Insider Activity

In related news, Director Daniel D. Springer sold 581,588 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the completion of the sale, the director now owns 906,430 shares in the company, valued at approximately $87,959,967.20. This trade represents a 39.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the transaction, the director now directly owns 7,736 shares in the company, valued at approximately $731,825.60. This represents a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 686,010 shares of company stock worth $66,102,694 in the last three months. 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.