Gateway Investment Advisers LLC Acquires New Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Gateway Investment Advisers LLC purchased a new stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,488 shares of the company's stock, valued at approximately $3,192,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DOCU. Sanders Morris Harris LLC acquired a new stake in DocuSign during the fourth quarter worth about $256,000. CHURCHILL MANAGEMENT Corp purchased a new stake in DocuSign in the 4th quarter worth approximately $846,000. Burney Co. grew its stake in shares of DocuSign by 3.8% during the 4th quarter. Burney Co. now owns 200,646 shares of the company's stock worth $18,046,000 after purchasing an additional 7,364 shares during the period. Park Avenue Securities LLC increased its holdings in shares of DocuSign by 183.4% during the 4th quarter. Park Avenue Securities LLC now owns 10,558 shares of the company's stock valued at $950,000 after purchasing an additional 6,832 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of DocuSign by 67.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 411,012 shares of the company's stock valued at $36,966,000 after purchasing an additional 165,797 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on DOCU shares. UBS Group raised 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. Citigroup raised their target price on DocuSign from $87.00 to $113.00 and gave the company a "buy" rating in a research report on Friday, December 6th. JMP Securities reaffirmed a "market outperform" rating and issued a $124.00 price target on shares of DocuSign in a report on Tuesday, January 7th. Wells Fargo & Company raised their price objective on DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a report on Friday, December 6th. Finally, Hsbc Global Res upgraded DocuSign to a "moderate sell" rating in a research report on Friday, December 6th. Three 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $92.45.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.60, for a total transaction of $50,516.40. Following the transaction, the director now owns 7,736 shares of the company's stock, valued at approximately $731,825.60. The trade was a 6.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert Chatwani sold 14,800 shares of the firm's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the sale, the insider now owns 73,414 shares of the company's stock, valued at approximately $7,176,952.64. The trade was a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 693,537 shares of company stock worth $66,575,817 over the last ninety days. Corporate insiders own 1.66% of the company's stock.

DocuSign Price Performance

NASDAQ DOCU traded down $1.56 during trading hours on Friday, hitting $89.60. 2,379,686 shares of the company's stock traded hands, compared to its average volume of 2,651,414. The company has a market capitalization of $18.10 billion, a PE ratio of 18.47, a PEG ratio of 8.17 and a beta of 0.88. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The firm's 50-day moving average is $88.76 and its 200-day moving average is $70.27.

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.