DocuSign, Inc. (NASDAQ:DOCU) Stock Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in DocuSign, Inc. (NASDAQ:DOCU) by 61.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,673,612 shares of the company’s stock after buying an additional 637,505 shares during the period. Bank of New York Mellon Corp’s holdings in DocuSign were worth $150,525,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of DOCU. Creative Planning grew its position in DocuSign by 5.6% in the 3rd quarter. Creative Planning now owns 14,453 shares of the company’s stock worth $897,000 after purchasing an additional 766 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in DocuSign by 13.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,466 shares of the company’s stock worth $214,000 after purchasing an additional 413 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in DocuSign by 77.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,603 shares of the company’s stock worth $907,000 after purchasing an additional 6,390 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in DocuSign in the 3rd quarter worth about $1,503,000. Finally, Pallas Capital Advisors LLC bought a new position in DocuSign in the 3rd quarter worth about $371,000. Institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DOCU. JMP Securities reaffirmed a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a research note on Tuesday, January 7th. Piper Sandler upped their price target on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their price target on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. Finally, UBS Group upped their price target on shares of DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research note 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $92.45.

DocuSign Price Performance

DOCU stock opened at $83.17 on Friday. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The firm has a market cap of $16.80 billion, a PE ratio of 17.15, a P/E/G ratio of 6.94 and a beta of 0.89. The firm has a 50 day simple moving average of $90.43 and a 200 day simple moving average of $77.57.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the sale, the chief executive officer now owns 100,062 shares in the company, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the transaction, the chief financial officer now owns 77,851 shares in the company, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 693,773 shares of company stock valued at $66,727,926 over the last ninety days. Insiders own 1.66% of the company’s stock.

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.