Allspring Global Investments Holdings LLC Has $9.11 Million Stake in DocuSign, Inc. (NASDAQ:DOCU)

Allspring Global Investments Holdings LLC lessened its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,795 shares of the company’s stock after selling 4,893 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in DocuSign were worth $9,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in DOCU. Itau Unibanco Holding S.A. bought a new position in shares of DocuSign during the 3rd quarter worth $28,000. Brooklyn Investment Group bought a new position in shares of DocuSign during the 3rd quarter worth $33,000. Modus Advisors LLC bought a new position in shares of DocuSign during the 4th quarter worth $36,000. Reston Wealth Management LLC bought a new position in shares of DocuSign during the 3rd quarter worth $47,000. Finally, Avior Wealth Management LLC lifted its holdings in DocuSign by 36.5% during the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after purchasing an additional 145 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

Shares of DOCU stock opened at $87.34 on Wednesday. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The stock’s 50-day simple moving average is $92.44 and its 200-day simple moving average is $75.87. The firm has a market capitalization of $17.64 billion, a PE ratio of 18.01, a P/E/G ratio of 7.56 and a beta of 0.89.

Analyst Ratings Changes

A number of brokerages recently weighed in on DOCU. Wells Fargo & Company raised their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Morgan Stanley raised their price objective on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price objective (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. Finally, Robert W. Baird raised their price target on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. 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 currently has an average rating of “Hold” and an average price target of $92.45.

Insider Activity

In related news, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction on Monday, December 2nd. The stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel D. Springer sold 581,588 shares of DocuSign stock in a transaction on 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 sale, the director now directly owns 906,430 shares in the company, 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 693,773 shares of company stock valued at $66,727,926 in the last ninety days. 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.