Convergence Investment Partners LLC Acquires 3,284 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Convergence Investment Partners LLC grew its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 8.5% during the fourth quarter, Holdings Channel reports. The fund owned 42,061 shares of the company’s stock after purchasing an additional 3,284 shares during the period. DocuSign makes up about 0.8% of Convergence Investment Partners LLC’s holdings, making the stock its 27th biggest holding. Convergence Investment Partners LLC’s holdings in DocuSign were worth $3,783,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in shares of DocuSign in the 3rd quarter worth approximately $28,000. Kestra Investment Management LLC purchased a new position in shares of DocuSign in the 4th quarter worth $30,000. Brooklyn Investment Group purchased a new stake in shares of DocuSign during the 3rd quarter valued at about $33,000. Modus Advisors LLC purchased a new stake in DocuSign during the fourth quarter valued at approximately $36,000. Finally, Avion Wealth raised its holdings in DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after purchasing an additional 368 shares during the period. Institutional investors own 77.64% of the company’s stock.

Insider Activity

In related news, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the sale, the chief executive officer now directly owns 100,062 shares in the company, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction on Monday, December 16th. The stock was sold at an average price of $94.77, for a total transaction of $758,160.00. Following the sale, the chief financial officer now directly owns 101,439 shares in the company, valued at approximately $9,613,374.03. This trade represents a 7.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 693,773 shares of company stock valued at $66,727,926 in the last quarter. 1.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on DOCU. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Robert W. Baird lifted their target price on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Citigroup increased their price target on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Jefferies Financial Group boosted their price objective on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler increased their price target on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, DocuSign presently has an average rating of “Hold” and a consensus target price of $92.45.

DocuSign Stock Performance

DocuSign stock opened at $87.34 on Wednesday. The business’s 50-day simple moving average is $92.44 and its two-hundred day simple moving average is $75.87. The company has a market cap of $17.64 billion, a PE ratio of 18.01, a PEG ratio of 7.56 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.

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.