Y Intercept Hong Kong Ltd Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

Y Intercept Hong Kong Ltd purchased a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 47,957 shares of the company’s stock, valued at approximately $2,978,000.

Other large investors also recently modified their holdings of the company. Diversified Trust Co grew its holdings in DocuSign by 17.7% during the second quarter. Diversified Trust Co now owns 13,133 shares of the company’s stock worth $703,000 after acquiring an additional 1,979 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in DocuSign by 55.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,213 shares of the company’s stock worth $439,000 after acquiring an additional 2,925 shares during the period. V Square Quantitative Management LLC grew its holdings in DocuSign by 25.7% during the second quarter. V Square Quantitative Management LLC now owns 2,847 shares of the company’s stock worth $152,000 after acquiring an additional 582 shares during the period. PGGM Investments grew its holdings in DocuSign by 36.7% during the second quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after acquiring an additional 13,379 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its holdings in DocuSign by 13.0% during the second quarter. Baader Bank Aktiengesellschaft now owns 17,517 shares of the company’s stock worth $937,000 after acquiring an additional 2,017 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Price Performance

Shares of DocuSign stock opened at $102.26 on Tuesday. The firm has a market cap of $20.76 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 11.08 and a beta of 0.92. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The stock has a 50-day simple moving average of $75.46 and a 200-day simple moving average of $62.36.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Robert W. Baird increased their price target on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday. HSBC reiterated a “reduce” rating on shares of DocuSign in a research report on Friday. Citigroup increased their price target on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada reiterated 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. Finally, JMP Securities increased their price target on DocuSign from $108.00 to $124.00 and gave the company a “market outperform” rating in a research report on Friday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, DocuSign has an average rating of “Hold” and a consensus target price of $92.45.

Insider Activity

In related news, CFO Blake Jeffrey Grayson sold 14,036 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total value of $778,576.92. Following the transaction, the chief financial officer now directly owns 87,611 shares of the company’s stock, valued at approximately $4,859,782.17. This trade represents a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,648 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total value of $477,770.56. Following the completion of the transaction, the chief executive officer now directly owns 115,589 shares in the company, valued at $7,220,844.83. The trade was a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,596 shares of company stock worth $4,441,529 in the last three months. 1.66% of the stock is owned by insiders.

DocuSign Company 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.