Victory Capital Management Inc. Sells 200,583 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Victory Capital Management Inc. decreased its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 48.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 209,294 shares of the company’s stock after selling 200,583 shares during the period. Victory Capital Management Inc. owned approximately 0.10% of DocuSign worth $18,824,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. KBC Group NV boosted its position in shares of DocuSign by 209.8% during the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after acquiring an additional 783,419 shares during the last quarter. Bank of New York Mellon Corp raised its stake in DocuSign by 61.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock valued at $150,525,000 after purchasing an additional 637,505 shares in the last quarter. Fiera Capital Corp bought a new stake in DocuSign during the fourth quarter valued at approximately $47,920,000. Principal Financial Group Inc. grew its stake in DocuSign by 3,026.7% in the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock worth $49,179,000 after buying an additional 529,308 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of DocuSign by 42.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock worth $90,625,000 after buying an additional 434,312 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Stock Up 2.1 %

NASDAQ:DOCU opened at $79.50 on Wednesday. The firm has a market capitalization of $16.06 billion, a P/E ratio of 16.39, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The company has a fifty day moving average of $88.57 and a 200 day moving average of $79.06.

Analysts Set New Price Targets

DOCU has been the subject of a number of research analyst reports. Morgan Stanley lifted their price objective on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. 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. Robert W. Baird upped their target price on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $92.91.

Insider Buying and Selling at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, December 16th. The shares were 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Chatwani sold 14,800 shares of DocuSign 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 sale, 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 quarter, insiders have sold 104,422 shares of company stock worth $9,665,394. 1.66% of the stock is currently owned by company insiders.

DocuSign 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.