Amalgamated Bank Acquires 85,954 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Amalgamated Bank grew its position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 633.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,516 shares of the company's stock after buying an additional 85,954 shares during the quarter. Amalgamated Bank's holdings in DocuSign were worth $8,950,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of DOCU. Itau Unibanco Holding S.A. bought a new stake in shares of DocuSign in the 3rd quarter worth approximately $28,000. Kestra Investment Management LLC bought a new stake in shares of DocuSign in the 4th quarter worth approximately $30,000. Brooklyn Investment Group bought a new stake in shares of DocuSign in the 3rd quarter worth approximately $33,000. Modus Advisors LLC bought a new stake in shares of DocuSign in the 4th quarter worth approximately $36,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after purchasing an additional 201 shares during the period. Institutional investors own 77.64% of the company's stock.

DocuSign Trading Up 2.3 %

Shares of DOCU traded up $1.89 during mid-day trading on Friday, reaching $83.17. 2,316,769 shares of the stock traded hands, compared to its average volume of 2,043,412. The firm has a fifty day moving average price of $90.43 and a 200 day moving average price of $77.57. The company has a market cap of $16.80 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 6.94 and a beta of 0.89. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Citigroup lifted their price target on shares of DocuSign from $87.00 to $113.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Royal Bank of Canada reissued a "sector perform" rating and set a $90.00 target price (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. Wells Fargo & Company boosted their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a report on Friday, December 6th. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a report on Tuesday, February 4th. Finally, UBS Group boosted their target price on shares of DocuSign from $60.00 to $100.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Three 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 company. According to MarketBeat.com, DocuSign currently has an average rating of "Hold" and an average target price of $92.45.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 7,763 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the transaction, the chief executive officer now directly owns 100,062 shares in the company, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel D. Springer sold 581,588 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the completion of the transaction, the director now owns 906,430 shares of the company's stock, valued at $87,959,967.20. This trade represents a 39.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 693,773 shares of company stock worth $66,727,926. Corporate insiders own 1.66% of the company's stock.

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.