Munich Reinsurance Co Stock Corp in Munich Buys New Position in Docusign Inc. $DOCU

Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of Docusign Inc. (NASDAQ:DOCU) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 244,327 shares of the company’s stock, valued at approximately $17,614,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Docusign in the 2nd quarter worth approximately $140,987,000. Third Point LLC acquired a new stake in shares of Docusign during the second quarter worth $48,681,000. Jupiter Asset Management Ltd. raised its stake in Docusign by 88.3% during the second quarter. Jupiter Asset Management Ltd. now owns 1,316,440 shares of the company’s stock worth $102,538,000 after buying an additional 617,200 shares during the last quarter. Alliancebernstein L.P. raised its stake in Docusign by 132.8% during the second quarter. Alliancebernstein L.P. now owns 868,531 shares of the company’s stock worth $67,650,000 after buying an additional 495,380 shares during the last quarter. Finally, Andra AP fonden acquired a new position in Docusign in the third quarter valued at $34,956,000. Institutional investors own 77.64% of the company’s stock.

Insider Transactions at Docusign

In related news, CEO Allan C. Thygesen sold 26,250 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $69.60, for a total transaction of $1,827,000.00. Following the transaction, the chief executive officer directly owned 142,261 shares of the company’s stock, valued at $9,901,365.60. This trade represents a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $67.05, for a total transaction of $402,300.00. Following the transaction, the executive owned 68,970 shares in the company, valued at approximately $4,624,438.50. This trade represents a 8.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 77,476 shares of company stock worth $5,302,678. 1.01% of the stock is owned by insiders.

Docusign Trading Up 1.0%

NASDAQ DOCU opened at $48.69 on Friday. The firm has a market capitalization of $9.75 billion, a P/E ratio of 34.05, a PEG ratio of 2.10 and a beta of 1.03. The business has a fifty day simple moving average of $53.84 and a 200 day simple moving average of $65.84. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $94.67.

Wall Street Analysts Forecast Growth

DOCU has been the subject of a number of research reports. Jefferies Financial Group cut shares of Docusign from a “buy” rating to a “hold” rating and reduced their price target for the stock from $105.00 to $45.00 in a report on Monday, February 23rd. BTIG Research cut their price objective on shares of Docusign from $88.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Royal Bank Of Canada reduced their target price on Docusign from $95.00 to $70.00 and set a “sector perform” rating for the company in a research note on Monday, January 5th. Evercore decreased their target price on Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, December 5th. Finally, JPMorgan Chase & Co. cut their price target on Docusign from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Five equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, Docusign has a consensus rating of “Hold” and an average target price of $78.80.

Docusign Company Profile

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.