MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Cuts Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in DocuSign, Inc. (NASDAQ:DOCU) by 61.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,480 shares of the company’s stock after selling 91,834 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in DocuSign were worth $5,179,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of DOCU. Itau Unibanco Holding S.A. bought a new stake in DocuSign during the third quarter worth $28,000. Brooklyn Investment Group purchased a new stake in shares of DocuSign during the 3rd quarter valued at $33,000. Modus Advisors LLC purchased a new stake in shares of DocuSign during the 4th quarter valued at $36,000. Reston Wealth Management LLC bought a new stake in shares of DocuSign during the 3rd quarter worth $47,000. Finally, Avior Wealth Management LLC boosted its holdings in shares of DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after buying an additional 145 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DOCU. 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. Morgan Stanley boosted 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. Robert W. Baird increased their price target on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. Three 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. According to data from MarketBeat, DocuSign currently has an average rating of “Hold” and a consensus target price of $92.45.

Insider Activity

In related news, Director Daniel D. Springer sold 581,588 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the transaction, the director now directly owns 906,430 shares of the company’s stock, valued at approximately $87,959,967.20. This trade represents a 39.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the transaction, the chief executive officer now owns 100,062 shares of the company’s stock, valued at $8,058,993.48. This trade represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 693,537 shares of company stock worth $66,575,817 over the last quarter. Insiders own 1.66% of the company’s stock.

DocuSign Trading Down 1.3 %

DocuSign stock opened at $90.54 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 capitalization of $18.29 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 8.30 and a beta of 0.88. The firm has a 50 day moving average of $89.31 and a 200 day moving average of $71.03.

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.