Nordea Investment Management AB Has $74.13 Million Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Nordea Investment Management AB increased its stake in DocuSign, Inc. (NASDAQ:DOCU) by 35.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 819,221 shares of the company’s stock after buying an additional 214,298 shares during the quarter. Nordea Investment Management AB’s holdings in DocuSign were worth $74,131,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new stake in DocuSign during the third quarter worth $28,000. Brooklyn Investment Group bought a new stake in shares of DocuSign in the 3rd quarter valued at about $33,000. Modus Advisors LLC acquired a new stake in DocuSign in the 4th quarter valued at about $36,000. Reston Wealth Management LLC acquired a new stake in DocuSign in the 3rd quarter valued at about $47,000. Finally, Wilmington Savings Fund Society FSB bought a new position in DocuSign during the third quarter worth about $51,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Price Performance

DocuSign stock opened at $88.26 on Wednesday. The firm has a market cap of $17.83 billion, a P/E ratio of 18.20, a P/E/G ratio of 8.72 and a beta of 0.88. The stock’s 50 day moving average is $85.99 and its 200 day moving average is $68.29. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

Insider Transactions at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 9,552 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total value of $657,177.60. Following the transaction, the chief financial officer now directly owns 78,265 shares of the company’s stock, valued at $5,384,632. The trade was a 10.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the sale, the director now owns 7,736 shares in the company, valued at approximately $731,825.60. The trade was a 6.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 693,089 shares of company stock worth $66,320,395. Company insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DOCU shares. UBS Group raised their price objective on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research report on Tuesday. HSBC reissued a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 target price (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. Finally, Robert W. Baird increased their price target on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $92.45.

About DocuSign

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.