WT Asset Management Ltd Takes $1.53 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

WT Asset Management Ltd bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 17,043 shares of the company’s stock, valued at approximately $1,533,000.

A number of other hedge funds have also added to or reduced their stakes in DOCU. KBC Group NV boosted its holdings 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 worth $71,830,000 after buying an additional 783,419 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in DocuSign by 42.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock worth $90,625,000 after acquiring an additional 434,312 shares in the last quarter. International Assets Investment Management LLC grew its holdings in DocuSign by 5,660.8% in the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after purchasing an additional 431,295 shares during the period. Retirement Systems of Alabama increased its stake in DocuSign by 219.3% in the fourth quarter. Retirement Systems of Alabama now owns 466,478 shares of the company’s stock valued at $41,955,000 after purchasing an additional 320,383 shares in the last quarter. Finally, FMR LLC increased its stake in DocuSign by 16.8% in the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock valued at $136,156,000 after purchasing an additional 315,073 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

DocuSign Price Performance

Shares of DOCU stock opened at $96.47 on Wednesday. The firm has a 50-day moving average of $91.54 and a 200-day moving average of $73.38. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The company has a market cap of $19.49 billion, a P/E ratio of 19.89, a P/E/G ratio of 8.74 and a beta of 0.89.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of research analyst reports. Robert W. Baird increased their price objective on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Citigroup raised their price objective on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price target (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $92.45.

Insiders Place Their Bets

In related news, Director Peter Solvik sold 10,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $91.26, for a total transaction of $912,600.00. Following the completion of the transaction, the director now owns 150,253 shares in the company, valued at approximately $13,712,088.78. This represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 685,773 shares of company stock valued at $66,032,726. Corporate insiders own 1.66% of the company’s stock.

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.