Legal & General Group Plc Acquires 25,384 Shares of Docusign Inc (DOCU)
Legal & General Group Plc boosted its holdings in Docusign Inc (NASDAQ:DOCU) by 64.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 65,008 shares of the company’s stock after purchasing an additional 25,384 shares during the quarter. Legal & General Group Plc’s holdings in Docusign were worth $3,416,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Summit X LLC bought a new position in Docusign in the 2nd quarter valued at about $668,000. Waratah Capital Advisors Ltd. purchased a new stake in Docusign in the 3rd quarter valued at about $1,062,000. LPL Financial LLC increased its stake in Docusign by 74.5% in the 3rd quarter. LPL Financial LLC now owns 66,172 shares of the company’s stock valued at $3,479,000 after buying an additional 28,242 shares during the last quarter. US Bancorp DE increased its stake in Docusign by 24.5% in the 3rd quarter. US Bancorp DE now owns 23,425 shares of the company’s stock valued at $1,231,000 after buying an additional 4,609 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Docusign in the 2nd quarter valued at about $2,630,000. 37.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of DOCU stock opened at $44.90 on Friday. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.53. Docusign Inc has a 12-month low of $35.06 and a 12-month high of $68.35.
In other news, Director Keith J. Krach sold 34,340 shares of the firm’s stock in a transaction that occurred on Tuesday, December 18th. The shares were sold at an average price of $42.25, for a total transaction of $1,450,865.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith J. Krach sold 51,982 shares of the firm’s stock in a transaction that occurred on Friday, December 21st. The stock was sold at an average price of $40.34, for a total transaction of $2,096,953.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 433,335 shares of company stock valued at $18,466,176.
Several equities research analysts have commented on DOCU shares. Zacks Investment Research lowered shares of Docusign from a “hold” rating to a “sell” rating in a research note on Monday, October 1st. Wedbush started coverage on shares of Docusign in a research note on Thursday, October 18th. They issued a “neutral” rating and a $45.00 price objective for the company. Morgan Stanley increased their price objective on shares of Docusign from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Friday, December 7th. Goldman Sachs Group started coverage on shares of Docusign in a research note on Thursday, December 13th. They issued a “neutral” rating and a $45.00 price objective for the company. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $50.00 price objective on shares of Docusign in a research note on Friday, December 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.36.
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DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.
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