Principal Financial Group Inc. Reduces Holdings in Docusign Inc. $DOCU

Principal Financial Group Inc. lessened its stake in Docusign Inc. (NASDAQ:DOCU) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 462,040 shares of the company’s stock after selling 12,800 shares during the period. Principal Financial Group Inc.’s holdings in Docusign were worth $33,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in DOCU. UMB Bank n.a. increased its position in shares of Docusign by 93.7% during the third quarter. UMB Bank n.a. now owns 3,486 shares of the company’s stock worth $251,000 after purchasing an additional 1,686 shares in the last quarter. National Pension Service acquired a new stake in shares of Docusign in the 3rd quarter valued at about $1,566,000. Arizona State Retirement System grew its stake in Docusign by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 59,953 shares of the company’s stock worth $4,322,000 after buying an additional 815 shares during the last quarter. Impact Partnership Wealth LLC increased its position in Docusign by 41.6% during the third quarter. Impact Partnership Wealth LLC now owns 8,038 shares of the company’s stock worth $579,000 after buying an additional 2,363 shares during the period. Finally, AE Wealth Management LLC lifted its stake in Docusign by 30.6% in the third quarter. AE Wealth Management LLC now owns 3,838 shares of the company’s stock valued at $277,000 after buying an additional 899 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Stock Down 2.6%

Shares of NASDAQ:DOCU opened at $45.54 on Friday. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 2.04 and a beta of 1.00. Docusign Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $99.30. The firm’s 50-day simple moving average is $63.78 and its 200-day simple moving average is $70.13.

Insider Activity at Docusign

In other news, insider Robert Chatwani sold 13,818 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total transaction of $944,183.94. Following the completion of the transaction, the insider directly owned 70,197 shares of the company’s stock, valued at approximately $4,796,561.01. This represents a 16.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James P. Shaughnessy sold 12,000 shares of Docusign stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $67.03, for a total value of $804,360.00. Following the completion of the sale, the insider owned 54,550 shares in the company, valued at approximately $3,656,486.50. This trade represents a 18.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 78,292 shares of company stock worth $5,374,260 in the last three months. 1.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DOCU shares. Wells Fargo & Company lowered their target price on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, December 5th. JPMorgan Chase & Co. decreased their price target on shares of Docusign from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Wedbush lowered their price objective on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. UBS Group dropped their price objective on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Finally, Bank of America decreased their target price on shares of Docusign from $102.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $85.13.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.