Envestnet Asset Management Inc. Acquires 31,334 Shares of Docusign Inc. $DOCU

Envestnet Asset Management Inc. boosted its stake in shares of Docusign Inc. (NASDAQ:DOCU) by 11.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 312,859 shares of the company’s stock after buying an additional 31,334 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Docusign were worth $22,554,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Nordea Investment Management AB grew its position in shares of Docusign by 3.6% during the third quarter. Nordea Investment Management AB now owns 1,154,824 shares of the company’s stock worth $87,316,000 after purchasing an additional 40,432 shares in the last quarter. Baird Financial Group Inc. raised its holdings in shares of Docusign by 927.2% during the 2nd quarter. Baird Financial Group Inc. now owns 124,145 shares of the company’s stock worth $9,670,000 after acquiring an additional 112,059 shares in the last quarter. Rakuten Investment Management Inc. bought a new position in shares of Docusign during the 3rd quarter valued at approximately $5,335,000. Vise Technologies Inc. bought a new position in shares of Docusign during the 2nd quarter valued at approximately $436,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Docusign by 3.1% in the third quarter. Bank of New York Mellon Corp now owns 1,594,884 shares of the company’s stock valued at $114,975,000 after purchasing an additional 47,331 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Insider Activity at Docusign

In related news, insider Robert Chatwani sold 13,818 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total value of $944,183.94. Following the completion of the sale, the insider owned 70,197 shares in the company, valued at approximately $4,796,561.01. The trade was a 16.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $69.60, for a total value of $1,827,000.00. Following the completion of the transaction, the chief executive officer directly owned 142,261 shares in the company, valued at approximately $9,901,365.60. This trade represents a 15.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 78,292 shares of company stock worth $5,374,260 over the last ninety days. 1.01% of the stock is currently owned by company insiders.

Docusign Stock Up 2.5%

DOCU stock opened at $44.82 on Friday. Docusign Inc. has a twelve month low of $41.53 and a twelve month high of $94.67. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 1.91 and a beta of 1.00. The business’s fifty day simple moving average is $61.01 and its two-hundred day simple moving average is $68.69.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Docusign in a research note on Wednesday, January 21st. Bank of America reduced their target price on shares of Docusign from $102.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. BTIG Research began coverage on shares of Docusign in a research report on Tuesday, December 16th. They set a “buy” rating and a $88.00 target price on the stock. UBS Group dropped their price target on Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Finally, Zacks Research cut Docusign from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Six research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $84.00.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.