DocuSign, Inc. (NASDAQ:DOCU) Position Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 1.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 17,488 shares of the company’s stock after selling 219 shares during the quarter. Principal Financial Group Inc.’s holdings in DocuSign were worth $1,086,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in shares of DocuSign during the third quarter valued at approximately $28,000. Brooklyn Investment Group acquired a new position in shares of DocuSign during the third quarter valued at $33,000. Reston Wealth Management LLC bought a new position in shares of DocuSign during the third quarter worth about $47,000. Wilmington Savings Fund Society FSB bought a new stake in DocuSign in the 3rd quarter valued at about $51,000. Finally, Quarry LP acquired a new position in DocuSign during the 2nd quarter valued at about $53,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DOCU shares. 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 report on Friday, December 6th. Citigroup increased their price target on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Finally, JMP Securities boosted their target price on DocuSign from $108.00 to $124.00 and gave the stock a “market outperform” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $92.45.

Insider Activity

In related news, CFO Blake Jeffrey Grayson sold 9,552 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total transaction of $657,177.60. Following the transaction, the chief financial officer now directly owns 78,265 shares of the company’s stock, valued at approximately $5,384,632. The trade was a 10.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total value of $508,725.00. Following the completion of the sale, the insider now directly owns 43,301 shares of the company’s stock, valued at approximately $2,937,106.83. This represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 700,589 shares of company stock valued at $66,829,120 over the last three months. Insiders own 1.66% of the company’s stock.

DocuSign Stock Down 0.2 %

DOCU opened at $90.21 on Friday. The business has a fifty day simple moving average of $85.19 and a 200-day simple moving average of $67.53. The firm has a market cap of $18.22 billion, a PE ratio of 18.60, a P/E/G ratio of 8.72 and a beta of 0.92. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

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.