Mitchell Mcleod Pugh & Williams Inc. Buys New Stake in DocuSign, Inc. (NASDAQ:DOCU)

Mitchell Mcleod Pugh & Williams Inc. acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,991 shares of the company’s stock, valued at approximately $269,000.

A number of other hedge funds have also made changes to their positions in DOCU. UMB Bank n.a. raised its holdings in DocuSign by 1,654.7% in the fourth quarter. UMB Bank n.a. now owns 930 shares of the company’s stock worth $84,000 after purchasing an additional 877 shares during the period. Aaron Wealth Advisors LLC increased its position in shares of DocuSign by 14.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 4,940 shares of the company’s stock valued at $444,000 after acquiring an additional 606 shares during the last quarter. Kera Capital Partners Inc. bought a new stake in DocuSign during the fourth quarter worth $287,000. Hanseatic Management Services Inc. bought a new position in shares of DocuSign during the 4th quarter worth approximately $102,000. Finally, Ameritas Advisory Services LLC boosted its position in DocuSign by 2.5% during the fourth quarter. Ameritas Advisory Services LLC now owns 21,043 shares of the company’s stock worth $1,893,000 after purchasing an additional 512 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity

In other news, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the transaction, the chief executive officer now owns 100,062 shares in the company, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Chatwani sold 14,800 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total value of $1,446,848.00. Following the completion of the sale, the insider now owns 73,414 shares of the company’s stock, valued at $7,176,952.64. The trade was a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 693,537 shares of company stock valued at $66,575,817 over the last quarter. 1.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. HSBC reissued a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Citigroup raised their price target on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price objective (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $92.45.

DocuSign Stock Down 1.7 %

Shares of DOCU opened at $89.60 on Tuesday. The stock has a market cap of $18.10 billion, a PE ratio of 18.47, a PEG ratio of 8.17 and a beta of 0.88. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The business has a 50-day simple moving average of $88.76 and a two-hundred day simple moving average of $70.38.

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.