Gulf International Bank UK Ltd Decreases Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Gulf International Bank UK Ltd cut its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,839 shares of the company’s stock after selling 128 shares during the period. Gulf International Bank UK Ltd’s holdings in DocuSign were worth $1,424,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DOCU. Itau Unibanco Holding S.A. purchased a new stake in DocuSign during the 3rd quarter valued at $28,000. Kestra Investment Management LLC purchased a new stake in DocuSign during the 4th quarter valued at $30,000. Brooklyn Investment Group purchased a new stake in DocuSign during the 3rd quarter valued at $33,000. Modus Advisors LLC purchased a new stake in DocuSign during the 4th quarter valued at $36,000. Finally, First Horizon Advisors Inc. raised its stake in DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after buying an additional 201 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.77, for a total transaction of $758,160.00. Following the completion of the transaction, the chief financial officer now owns 101,439 shares of the company’s stock, valued at $9,613,374.03. This represents a 7.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction dated 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 directly 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. In the last quarter, insiders sold 693,773 shares of company stock valued at $66,727,926. Company insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on DOCU shares. HSBC reissued a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price objective (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Robert W. Baird boosted their price objective on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Jefferies Financial Group boosted their price objective on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, DocuSign presently has an average rating of “Hold” and an average target price of $92.45.

DocuSign Stock Performance

Shares of DocuSign stock opened at $83.17 on Friday. The company has a market capitalization of $16.80 billion, a P/E ratio of 17.15, a P/E/G ratio of 6.94 and a beta of 0.89. The company has a fifty day moving average of $90.43 and a 200 day moving average of $77.74. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

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.