Principal Securities Inc. Boosts Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Principal Securities Inc. grew its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 52.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,406 shares of the company’s stock after buying an additional 2,890 shares during the period. Principal Securities Inc.’s holdings in DocuSign were worth $756,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in shares of DocuSign in the 3rd quarter worth about $28,000. Brooklyn Investment Group bought a new stake in shares of DocuSign in the 3rd quarter worth about $33,000. Modus Advisors LLC bought a new stake in DocuSign during the 4th quarter valued at about $36,000. Avion Wealth lifted its holdings in DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after buying an additional 368 shares in the last quarter. Finally, Reston Wealth Management LLC bought a new stake in DocuSign during the 3rd quarter valued at about $47,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Robert W. Baird raised their target price on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Tuesday, February 4th. UBS Group lifted their price objective 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. Citigroup lifted their price objective 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. Finally, JMP Securities reissued a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research report on Tuesday, January 7th. Three research 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $92.45.

Insiders Place Their Bets

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total value of $676,275.00. Following the transaction, the insider now owns 43,781 shares of the company’s stock, valued at $3,947,732.77. This represents a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert Chatwani sold 14,800 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the completion of the transaction, the insider now directly owns 73,414 shares in the company, valued at $7,176,952.64. The trade was a 16.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 693,773 shares of company stock worth $66,727,926. Company insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

NASDAQ:DOCU opened at $86.20 on Friday. The company has a fifty day moving average of $92.10 and a two-hundred day moving average of $76.20. The stock has a market capitalization of $17.41 billion, a PE ratio of 17.77, a P/E/G ratio of 7.03 and a beta of 0.89. 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.