Docusign Inc. $DOCU Shares Bought by Korea Investment CORP

Key Points

• Korea Investment CORP increased its stake in DocuSign by 23.3% during Q3 to 215,185 shares (an additional 40,700 shares), holding about 0.11% of the company worth approximately $15.5 million.
• Other large institutional moves include new stakes from Norges Bank (~$141.0M) and Third Point (~$48.7M), with institutions owning about 77.64% of DOCU.
• Company insiders have been net sellers, disposing of a total of 77,476 shares worth $5.3 million over the last three months (including CFO Blake Grayson and Robert Chatwani), leaving insiders with about 1.66% ownership.

Korea Investment CORP increased its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 23.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 215,185 shares of the company's stock after acquiring an additional 40,700 shares during the period. Korea Investment CORP owned approximately 0.11% of Docusign worth $15,513,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in Docusign during the second quarter worth approximately $140,987,000. Third Point LLC bought a new position in Docusign during the 2nd quarter valued at $48,681,000. Jupiter Asset Management Ltd. increased its position in shares of Docusign by 88.3% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,316,440 shares of the company's stock valued at $102,538,000 after purchasing an additional 617,200 shares during the period. Alliancebernstein L.P. increased its position in shares of Docusign by 132.8% during the 2nd quarter. Alliancebernstein L.P. now owns 868,531 shares of the company's stock valued at $67,650,000 after purchasing an additional 495,380 shares during the period. Finally, Andra AP fonden bought a new stake in shares of Docusign in the 3rd quarter worth $34,956,000. 77.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 9,515 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total value of $650,159.95. Following the completion of the transaction, the chief financial officer owned 118,213 shares in the company, valued at $8,077,494.29. This trade represents a 7.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert Chatwani sold 13,818 shares of the business's stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total value of $944,183.94. Following the sale, the insider owned 70,197 shares in the company, valued at approximately $4,796,561.01. The trade was a 16.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 77,476 shares of company stock worth $5,302,678 over the last three months. Company insiders own 1.66% of the company's stock.

Docusign Stock Down 0.1%

Shares of NASDAQ DOCU opened at $48.64 on Wednesday. The stock has a market capitalization of $9.74 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 2.12 and a beta of 1.03. The stock's fifty day simple moving average is $53.01 and its 200 day simple moving average is $65.43. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $94.67.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Cantor Fitzgerald restated an "outperform" rating on shares of Docusign in a report on Wednesday, December 17th. Royal Bank Of Canada dropped their price target on shares of Docusign from $95.00 to $70.00 and set a "sector perform" rating on the stock in a research report on Monday, January 5th. Piper Sandler cut their price target on shares of Docusign from $90.00 to $75.00 and set a "neutral" rating for the company in a report on Friday, December 5th. BTIG Research reduced their price objective on shares of Docusign from $88.00 to $70.00 and set a "buy" rating for the company in a research report on Wednesday, February 18th. Finally, UBS Group 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 note on Friday, December 5th. Five research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $78.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.