Grimes & Company Inc. reduced its stake in DocuSign, Inc. (NASDAQ:DOCU – Free Report) by 3.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 270,252 shares of the company’s stock after selling 10,751 shares during the period. Grimes & Company Inc. owned 0.13% of DocuSign worth $16,780,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in DOCU. Inspire Investing LLC acquired a new stake in DocuSign during the 3rd quarter worth $911,000. Comerica Bank raised its stake in DocuSign by 228.8% during the 1st quarter. Comerica Bank now owns 28,901 shares of the company’s stock worth $1,721,000 after buying an additional 20,110 shares during the period. Retirement Systems of Alabama acquired a new stake in DocuSign during the 1st quarter worth $8,700,000. PGGM Investments raised its stake in DocuSign by 36.7% during the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after buying an additional 13,379 shares during the period. Finally, Claro Advisors LLC acquired a new stake in DocuSign during the 3rd quarter worth $727,000. 77.64% of the stock is currently owned by institutional investors.
DocuSign Stock Performance
DocuSign stock traded up $0.61 during midday trading on Thursday, reaching $71.17. 130,468 shares of the company’s stock were exchanged, compared to its average volume of 2,924,413. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $73.80. The firm has a market cap of $14.57 billion, a price-to-earnings ratio of 135.69, a P/E/G ratio of 7.33 and a beta of 0.92. The stock’s 50-day simple moving average is $61.35 and its 200 day simple moving average is $57.50.
Analyst Upgrades and Downgrades
Several brokerages recently commented on DOCU. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research note on Thursday, September 5th. Wells Fargo & Company lifted their price target on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Robert W. Baird lifted their price target on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Citigroup lifted their price target on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada lifted their price target on DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $63.40.
Check Out Our Latest Research Report on DocuSign
Insider Buying and Selling
In related news, CFO Blake Jeffrey Grayson sold 9,552 shares of DocuSign stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total transaction of $657,177.60. Following the completion of the transaction, the chief financial officer now owns 78,265 shares in the company, valued at approximately $5,384,632. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total transaction of $508,725.00. Following the completion of the sale, the insider now owns 43,301 shares in the company, valued at $2,937,106.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total value of $657,177.60. Following the sale, the chief financial officer now owns 78,265 shares of the company’s stock, valued at approximately $5,384,632. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 427,554 shares of company stock worth $23,129,150. Company insiders own 1.66% of the company’s stock.
DocuSign Company 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.
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