Bank of New York Mellon Corp Grows Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Bank of New York Mellon Corp grew its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 61.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,673,612 shares of the company's stock after purchasing an additional 637,505 shares during the period. Bank of New York Mellon Corp owned approximately 0.83% of DocuSign worth $150,525,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Synergy Financial Group LTD boosted its position in shares of DocuSign by 3.4% in the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company's stock worth $381,000 after buying an additional 140 shares in the last quarter. IFP Advisors Inc boosted its position in shares of DocuSign by 249.3% in the 4th quarter. IFP Advisors Inc now owns 2,798 shares of the company's stock worth $252,000 after buying an additional 1,997 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of DocuSign in the 4th quarter worth about $96,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of DocuSign by 17.7% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 61,200 shares of the company's stock worth $5,504,000 after buying an additional 9,200 shares in the last quarter. Finally, MONECO Advisors LLC purchased a new stake in shares of DocuSign in the 4th quarter worth about $1,532,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. 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 research note on Friday, December 6th. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a research note on Tuesday, February 4th. Royal Bank of Canada reissued a "sector perform" rating and issued a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. HSBC reissued a "reduce" rating on shares of DocuSign in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research note on Tuesday, December 3rd. Three investment 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, the company has an average rating of "Hold" and a consensus target price of $92.45.

Insider Buying and Selling

In other DocuSign news, Director Peter Solvik sold 10,000 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the transaction, the director now owns 150,253 shares in the company, valued at $13,712,088.78. This represents a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the transaction, the chief financial officer now owns 77,851 shares of the company's stock, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 686,010 shares of company stock valued at $66,102,694. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Trading Down 1.8 %

Shares of NASDAQ DOCU traded down $1.47 on Monday, reaching $81.70. 1,577,965 shares of the company traded hands, compared to its average volume of 2,031,790. The company has a 50 day moving average of $90.43 and a 200 day moving average of $77.90. The stock has a market capitalization of $16.51 billion, a PE ratio of 16.85, a P/E/G ratio of 6.94 and a beta of 0.89. 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.