DocuSign, Inc. (NASDAQ:DOCU) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers raised its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 118.8% in the 4th quarter, HoldingsChannel reports. The fund owned 608,123 shares of the company’s stock after buying an additional 330,136 shares during the quarter. Rhumbline Advisers’ holdings in DocuSign were worth $54,695,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DOCU. Exchange Traded Concepts LLC boosted its position in shares of DocuSign by 2,689.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,849 shares of the company’s stock valued at $239,000 after purchasing an additional 3,711 shares during the period. Creative Planning boosted its position in shares of DocuSign by 5.6% in the 3rd quarter. Creative Planning now owns 14,453 shares of the company’s stock valued at $897,000 after purchasing an additional 766 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of DocuSign by 3.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 41,436 shares of the company’s stock valued at $2,573,000 after purchasing an additional 1,341 shares during the period. V Square Quantitative Management LLC boosted its position in shares of DocuSign by 6.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock valued at $187,000 after purchasing an additional 172 shares during the period. Finally, Claro Advisors LLC acquired a new stake in shares of DocuSign in the 3rd quarter valued at about $727,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 15,588 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the sale, the chief financial officer now directly owns 85,851 shares in the company, valued at approximately $8,394,510.78. The trade was a 15.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Solvik sold 10,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the transaction, the director now directly owns 150,253 shares of the company’s stock, valued at approximately $13,712,088.78. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 685,773 shares of company stock worth $66,032,726. 1.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DOCU shares. Morgan Stanley lifted their target price on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Robert W. Baird lifted their target price on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company lifted their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Finally, UBS Group lifted their target price on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Three equities 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 stock. According to MarketBeat.com, DocuSign has a consensus rating of “Hold” and a consensus target price of $92.45.

DocuSign Price Performance

DocuSign stock opened at $87.34 on Monday. The stock’s 50 day moving average price is $92.73 and its 200 day moving average price is $75.49. The company has a market cap of $17.64 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 7.56 and a beta of 0.89. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86.

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.