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

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 61.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,480 shares of the company's stock after selling 91,834 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in DocuSign were worth $5,179,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DOCU. Itau Unibanco Holding S.A. purchased a new position in DocuSign in the third quarter valued at about $28,000. Brooklyn Investment Group purchased a new position in DocuSign in the third quarter valued at approximately $33,000. Modus Advisors LLC bought a new position in DocuSign during the fourth quarter valued at $36,000. Reston Wealth Management LLC bought a new position in DocuSign during the third quarter valued at $47,000. Finally, Avior Wealth Management LLC increased its position in DocuSign by 36.5% in the fourth 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 owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research report on Friday, December 6th. UBS Group upped their price objective on shares of DocuSign from $60.00 to $100.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Wells Fargo & Company lifted their target price on shares of DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research note on Friday, December 6th. Jefferies Financial Group upped their price target on shares of DocuSign from $80.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Finally, JMP Securities reiterated a "market outperform" rating and issued a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. Three investment 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. According to MarketBeat, DocuSign currently has a consensus rating of "Hold" and a consensus target price of $92.45.

Insider Transactions at DocuSign

In other DocuSign news, Director Daniel D. Springer sold 581,588 shares of the business'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 sale, the director now directly owns 906,430 shares of the company's stock, valued at $87,959,967.20. The trade was a 39.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the transaction, the chief executive officer now directly owns 100,062 shares in the company, valued at $8,058,993.48. This trade represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 693,537 shares of company stock valued at $66,575,817. 1.66% of the stock is owned by corporate insiders.

DocuSign Stock Up 1.2 %

NASDAQ:DOCU traded up $1.06 during trading hours on Friday, hitting $91.60. 2,251,473 shares of the company's stock traded hands, compared to its average volume of 2,074,008. The business's fifty day simple moving average is $89.51 and its two-hundred day simple moving average is $71.17. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The firm has a market cap of $18.51 billion, a P/E ratio of 18.89, a P/E/G ratio of 8.30 and a beta of 0.88.

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.