New York Life Investment Management LLC Sells 1,794 Shares of DocuSign, Inc. (NASDAQ:DOCU)

New York Life Investment Management LLC cut its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,968 shares of the company’s stock after selling 1,794 shares during the quarter. New York Life Investment Management LLC’s holdings in DocuSign were worth $1,976,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Nwam LLC purchased a new position in shares of DocuSign in the fourth quarter worth $222,000. Oregon Public Employees Retirement Fund purchased a new position in DocuSign in the 4th quarter worth $3,715,000. Illinois Municipal Retirement Fund grew its stake in DocuSign by 103.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 106,695 shares of the company’s stock valued at $9,596,000 after purchasing an additional 54,251 shares during the last quarter. Amalgamated Bank increased its holdings in shares of DocuSign by 633.8% in the fourth quarter. Amalgamated Bank now owns 99,516 shares of the company’s stock valued at $8,950,000 after purchasing an additional 85,954 shares during the period. Finally, Bank of New York Mellon Corp raised its position in DocuSign by 61.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock worth $150,525,000 after buying an additional 637,505 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Buying and Selling at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 15,588 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total value of $1,524,194.64. Following the transaction, the chief financial officer now owns 85,851 shares of the company’s stock, valued at $8,394,510.78. This trade represents a 15.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert Chatwani sold 14,800 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total value of $1,446,848.00. Following the transaction, the insider now owns 73,414 shares of the company’s stock, valued at $7,176,952.64. This represents a 16.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 686,010 shares of company stock worth $66,102,694 in the last ninety days. 1.66% of the stock is owned by insiders.

Analysts Set New Price Targets

DOCU has been the subject of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price target (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. Jefferies Financial Group lifted their price objective on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised 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. Robert W. Baird boosted their price objective on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $92.45.

DocuSign Trading Up 2.3 %

Shares of DOCU stock opened at $83.17 on Monday. The firm has a fifty day simple moving average of $90.43 and a 200-day simple moving average of $77.90. The company has a market capitalization of $16.80 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 6.94 and a beta of 0.89. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86.

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.