Gilman Hill Asset Management LLC Sells 2,025 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Gilman Hill Asset Management LLC decreased its position in DocuSign, Inc. (NASDAQ:DOCU) by 2.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 80,422 shares of the company’s stock after selling 2,025 shares during the period. DocuSign accounts for about 1.3% of Gilman Hill Asset Management LLC’s portfolio, making the stock its 22nd largest holding. Gilman Hill Asset Management LLC’s holdings in DocuSign were worth $7,233,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DOCU. Toronto Dominion Bank raised its position in shares of DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after buying an additional 6,081 shares in the last quarter. Inspire Investing LLC acquired a new position in DocuSign in the 3rd quarter valued at $911,000. Charles Schwab Investment Management Inc. lifted its position in shares of DocuSign by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after acquiring an additional 16,014 shares during the period. International Assets Investment Management LLC lifted its position in shares of DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after acquiring an additional 431,295 shares during the period. Finally, Quantinno Capital Management LP increased its position in shares of DocuSign by 39.5% in the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after purchasing an additional 57,104 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DOCU. Wells Fargo & Company upped their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Morgan Stanley upped their price objective on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. JMP Securities restated a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a research report on Tuesday, January 7th. Robert W. Baird raised their price objective on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. increased their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $92.45.

DocuSign Trading Down 1.7 %

DOCU stock opened at $89.60 on Monday. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The stock has a 50-day moving average price of $88.76 and a 200-day moving average price of $70.38. The firm has a market cap of $18.10 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 8.17 and a beta of 0.88.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the transaction, the chief executive officer now directly owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. This trade represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 14,800 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total value of $1,446,848.00. Following the sale, the insider now directly owns 73,414 shares of the company’s stock, valued at $7,176,952.64. This represents a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 693,537 shares of company stock worth $66,575,817. 1.66% of the stock is owned by corporate 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.