Grimes & Company Inc. Lowers Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Grimes & Company Inc. lowered its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 254,619 shares of the company’s stock after selling 15,633 shares during the quarter. Grimes & Company Inc.’s holdings in DocuSign were worth $22,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Avior Wealth Management LLC grew its stake in DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after purchasing an additional 145 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its position in DocuSign by 1.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 13,540 shares of the company’s stock valued at $1,218,000 after acquiring an additional 149 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in DocuSign by 2.0% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock valued at $493,000 after acquiring an additional 155 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in DocuSign by 0.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock valued at $1,088,000 after acquiring an additional 157 shares in the last quarter. Finally, Optimist Retirement Group LLC boosted its position in DocuSign by 3.8% during the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock valued at $274,000 after acquiring an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DOCU shares. Jefferies Financial Group increased their target price on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. increased their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Citigroup increased their price objective on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a report on Friday, December 6th. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company increased their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $92.45.

DocuSign Stock Up 1.2 %

NASDAQ:DOCU opened at $91.60 on Friday. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The stock has a market capitalization of $18.51 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 8.30 and a beta of 0.88. The stock’s 50-day moving average price is $89.51 and its 200-day moving average price is $71.17.

Insider Activity

In other DocuSign news, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the transaction, the chief executive officer now directly owns 156,050 shares in the company, valued at $14,050,742. This represents a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Solvik sold 10,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the sale, the director now owns 150,253 shares in the company, valued at approximately $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. Insiders have sold 693,537 shares of company stock worth $66,575,817 in the last ninety days. Company insiders own 1.66% of the company’s stock.

DocuSign 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.