Gateway Investment Advisers LLC Acquires Shares of 35,488 DocuSign, Inc. (NASDAQ:DOCU)

Gateway Investment Advisers LLC bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 35,488 shares of the company’s stock, valued at approximately $3,192,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DOCU. State Street Corp increased its holdings in DocuSign by 2.3% in the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after acquiring an additional 120,743 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of DocuSign by 77.9% during the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after purchasing an additional 1,541,816 shares in the last quarter. Geode Capital Management LLC raised its position in shares of DocuSign by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after purchasing an additional 53,554 shares during the last quarter. Clearbridge Investments LLC lifted its stake in DocuSign by 4.1% in the 2nd quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company’s stock valued at $156,265,000 after buying an additional 115,616 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in DocuSign by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock valued at $141,398,000 after buying an additional 112,919 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

Shares of NASDAQ DOCU opened at $89.60 on Friday. The company has a market capitalization of $18.10 billion, a P/E ratio of 18.47, a P/E/G ratio of 8.17 and a beta of 0.88. The company has a 50 day simple moving average of $88.76 and a 200-day simple moving average of $70.15. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

Wall Street Analyst Weigh In

A number of brokerages have commented on DOCU. Robert W. Baird increased their target price on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price objective (up from $57.00) on shares of DocuSign in a research note on Friday, December 6th. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Finally, HSBC restated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $92.45.

Insiders Place Their Bets

In other news, Director Peter Solvik sold 10,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the completion of the transaction, the director now directly owns 150,253 shares in the company, valued at approximately $13,712,088.78. This represents a 6.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,764 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $69.95, for a total value of $543,091.80. Following the sale, the chief executive officer now directly owns 107,825 shares of the company’s stock, valued at $7,542,358.75. The trade was a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 693,537 shares of company stock valued at $66,575,817 over the last quarter. 1.66% of the stock is owned by insiders.

DocuSign Company 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.