QRG Capital Management Inc. Has $5.41 Million Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

QRG Capital Management Inc. lifted its stake in DocuSign, Inc. (NASDAQ:DOCU) by 93.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,155 shares of the company’s stock after acquiring an additional 28,980 shares during the quarter. QRG Capital Management Inc.’s holdings in DocuSign were worth $5,410,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. KBC Group NV grew its stake in DocuSign by 209.8% in the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after purchasing an additional 783,419 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of DocuSign by 61.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock valued at $150,525,000 after buying an additional 637,505 shares during the last quarter. Fiera Capital Corp bought a new position in shares of DocuSign in the fourth quarter valued at $47,920,000. Principal Financial Group Inc. increased its holdings in DocuSign by 3,026.7% during the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock worth $49,179,000 after buying an additional 529,308 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in DocuSign by 42.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock worth $90,625,000 after acquiring an additional 434,312 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In related news, insider Robert Chatwani sold 14,800 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the transaction, the insider now directly owns 73,414 shares of the company’s stock, valued at approximately $7,176,952.64. This trade represents a 16.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the sale, the chief executive officer now owns 100,062 shares of the company’s stock, valued at $8,058,993.48. This trade represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 693,773 shares of company stock worth $66,727,926 in the last 90 days. Company insiders own 1.66% of the company’s stock.

DocuSign Trading Up 2.3 %

NASDAQ:DOCU opened at $83.17 on Friday. The stock has a 50 day simple moving average of $90.43 and a 200 day simple moving average of $77.57. The stock has a market cap of $16.80 billion, a P/E ratio of 17.15, a PEG ratio of 6.94 and a beta of 0.89. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86.

Wall Street Analysts Forecast Growth

DOCU has been the subject of a number of analyst reports. UBS Group lifted their price objective on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Piper Sandler lifted their price target on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Morgan Stanley upped their price objective on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group boosted their target price on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.45.

DocuSign 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.