Van ECK Associates Corp Makes New $4.66 Million Investment in DocuSign, Inc. (NASDAQ:DOCU)

Van ECK Associates Corp bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 51,858 shares of the company's stock, valued at approximately $4,664,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp boosted its stake in DocuSign by 2.3% during the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company's stock worth $333,604,000 after purchasing an additional 120,743 shares during the last quarter. Geode Capital Management LLC boosted 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 valued at $215,789,000 after acquiring an additional 53,554 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of DocuSign by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company's stock valued at $141,398,000 after acquiring an additional 112,919 shares during the last quarter. FMR LLC boosted its position in shares of DocuSign by 16.8% during the 3rd quarter. FMR LLC now owns 2,192,885 shares of the company's stock valued at $136,156,000 after acquiring an additional 315,073 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of DocuSign by 14.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company's stock valued at $103,030,000 after acquiring an additional 208,813 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on DOCU shares. Jefferies Financial Group boosted their price target 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. HSBC reissued a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. UBS Group boosted their price target on shares of DocuSign from $60.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Royal Bank of Canada restated a "sector perform" rating and issued a $90.00 price objective (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. Finally, Citigroup boosted their price objective on shares of DocuSign from $87.00 to $113.00 and gave the company a "buy" rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, DocuSign currently has an average rating of "Hold" and a consensus target price of $92.45.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 7,763 shares of the business's 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 sale, the chief executive officer now directly owns 100,062 shares in the company, valued at $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares in the company, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 693,773 shares of company stock worth $66,727,926 over the last three months. Company insiders own 1.66% of the company's stock.

DocuSign Stock Down 2.6 %

NASDAQ:DOCU traded down $2.24 on Friday, reaching $83.96. 1,974,777 shares of the company's stock were exchanged, compared to its average volume of 1,923,247. The firm has a market capitalization of $16.96 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 6.94 and a beta of 0.89. The business has a fifty day moving average of $91.73 and a 200-day moving average of $76.50. DocuSign, Inc. has a 52-week low of $48.70 and a 52-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.