DocuSign, Inc. (NASDAQ:DOCU) Position Lessened by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lowered its position in DocuSign, Inc. (NASDAQ:DOCU) by 61.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,480 shares of the company’s stock after selling 91,834 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in DocuSign were worth $5,179,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DOCU. Lifestyle Asset Management Inc. acquired a new position in DocuSign in the fourth quarter worth approximately $1,095,000. IVC Wealth Advisors LLC acquired a new position in shares of DocuSign during the 4th quarter worth $225,000. Avior Wealth Management LLC raised its holdings in shares of DocuSign by 36.5% during the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after purchasing an additional 145 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of DocuSign by 34.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 38,805 shares of the company’s stock valued at $3,490,000 after purchasing an additional 9,859 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in DocuSign by 866.1% in the fourth quarter. SG Americas Securities LLC now owns 87,550 shares of the company’s stock worth $7,874,000 after purchasing an additional 78,488 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Stock Performance

DocuSign stock opened at $90.54 on Friday. The stock has a 50-day simple moving average of $89.31 and a 200 day simple moving average of $71.03. The stock has a market capitalization of $18.29 billion, a P/E ratio of 18.67, a PEG ratio of 8.30 and a beta of 0.88. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DOCU. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a report on Friday, December 6th. HSBC reissued a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research report on Tuesday, January 7th. UBS Group increased their price target on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Robert W. Baird boosted their price objective on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.45.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 15,588 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total value of $1,524,194.64. Following the completion of the transaction, the chief financial officer now owns 85,851 shares of the company’s stock, valued at $8,394,510.78. This represents a 15.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the sale, the director now directly owns 150,253 shares in the company, valued at $13,712,088.78. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 693,537 shares of company stock valued at $66,575,817. 1.66% of the stock is owned by company insiders.

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.