DekaBank Deutsche Girozentrale Boosts Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Posted by Defense World Staff on Apr 21st, 2023

DekaBank Deutsche Girozentrale boosted its position in shares of DocuSign, Inc. (NASDAQ:DOCU – Get Rating) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,299 shares of the company’s stock after buying an additional 3,479 shares during the period. DekaBank Deutsche Girozentrale’s holdings in DocuSign were worth $1,838,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Evermay Wealth Management LLC purchased a new stake in DocuSign during the 4th quarter worth approximately $28,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of DocuSign by 440.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock valued at $28,000 after purchasing an additional 220 shares in the last quarter. Whittier Trust Co. purchased a new stake in shares of DocuSign in the third quarter valued at approximately $30,000. Beacon Capital Management LLC grew its position in shares of DocuSign by 6,150.0% in the fourth quarter. Beacon Capital Management LLC now owns 625 shares of the company’s stock valued at $35,000 after purchasing an additional 615 shares in the last quarter. Finally, Performa Ltd US LLC grew its position in shares of DocuSign by 86.7% in the third quarter. Performa Ltd US LLC now owns 700 shares of the company’s stock valued at $37,000 after purchasing an additional 325 shares in the last quarter. 76.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target on DocuSign from $65.00 to $60.00 in a research report on Friday, March 10th. Royal Bank of Canada upped their price target on DocuSign from $53.00 to $59.00 and gave the company a “sector perform” rating in a research report on Friday, March 10th. Robert W. Baird upped their price target on DocuSign from $50.00 to $70.00 in a research report on Friday, March 10th. Citigroup upped their price target on DocuSign from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, March 9th. Finally, UBS Group lowered DocuSign from a “neutral” rating to a “sell” rating and set a $52.00 price objective for the company. in a research report on Tuesday, February 21st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.93.

DocuSign Stock Down 1.4 %

NASDAQ:DOCU opened at $52.29 on Friday. The stock’s fifty day moving average is $58.64 and its two-hundred day moving average is $54.29. DocuSign, Inc. has a 52 week low of $39.57 and a 52 week high of $96.20. The stock has a market capitalization of $10.56 billion, a price-to-earnings ratio of -106.71, a price-to-earnings-growth ratio of 15.65 and a beta of 0.99.

Insider Activity

In other news, Director Teresa Briggs sold 1,988 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $58.53, for a total value of $116,357.64. Following the sale, the director now directly owns 3,763 shares in the company, valued at $220,248.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.55% of the company’s stock.

About DocuSign

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DocuSign, Inc provides cloud-based electronic signature solutions. Its cloud based electronic signature platform helps companies and individuals securely collect information, automate data workflows and sign anything. The firm automates manual, paper-based processes allowing users to manage all aspects of documented business transactions including identity management, authentication, digital signature, forms and data collection, collaboration, workflow automation and storage.