DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Gries Financial LLC

Gries Financial LLC cut its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 15.8% in the fourth quarter, HoldingsChannel reports. The firm owned 3,508 shares of the company’s stock after selling 656 shares during the period. Gries Financial LLC’s holdings in DocuSign were worth $316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. KBC Group NV lifted its holdings in shares of DocuSign by 209.8% in the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after buying an additional 783,419 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in DocuSign by 42.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock valued at $90,625,000 after acquiring an additional 434,312 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in DocuSign by 5,660.8% in the third 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. FMR LLC boosted its position in DocuSign by 16.8% in the 3rd quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $136,156,000 after purchasing an additional 315,073 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of DocuSign during the 2nd quarter worth approximately $16,248,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Peter Solvik sold 10,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $91.26, for a total transaction of $912,600.00. Following the transaction, the director now owns 150,253 shares of the company’s stock, valued at approximately $13,712,088.78. The trade was a 6.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 7,763 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the sale, the chief executive officer now owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 685,773 shares of company stock worth $66,032,726 over the last three months. Insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

NASDAQ DOCU opened at $95.85 on Friday. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The business has a fifty day moving average price of $90.73 and a 200 day moving average price of $72.41. The company has a market cap of $19.36 billion, a P/E ratio of 19.76, a P/E/G ratio of 8.30 and a beta of 0.88.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DOCU. Jefferies Financial Group boosted their target price on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. increased their target price 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. UBS Group lifted their price target on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a report on Tuesday, January 7th. Finally, Citigroup raised 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. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $92.45.

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.