Grimes & Company Inc. Has $22.90 Million Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Grimes & Company Inc. decreased its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 254,619 shares of the company's stock after selling 15,633 shares during the period. Grimes & Company Inc. owned approximately 0.13% of DocuSign worth $22,900,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Modus Advisors LLC acquired a new stake in DocuSign during the 4th quarter worth about $36,000. Itau Unibanco Holding S.A. acquired a new stake in shares of DocuSign during the third quarter valued at approximately $28,000. Brooklyn Investment Group purchased a new stake in shares of DocuSign in the 3rd quarter valued at approximately $33,000. Avior Wealth Management LLC boosted its stake in DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock worth $49,000 after purchasing an additional 145 shares during the period. Finally, Friedenthal Financial purchased a new position in DocuSign during the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 77.64% of the company's stock.

Analyst Upgrades and Downgrades

DOCU has been the subject of several recent analyst reports. UBS Group raised their target price on DocuSign from $60.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Morgan Stanley lifted their target price on DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a research note on Friday, December 6th. Hsbc Global Res upgraded shares of DocuSign to a "moderate sell" rating in a report on Friday, December 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, DocuSign has a consensus rating of "Hold" and a consensus price target of $92.45.

DocuSign Trading Up 1.2 %

NASDAQ DOCU traded up $1.06 during trading on Friday, hitting $91.60. 2,251,473 shares of the company traded hands, compared to its average volume of 1,725,834. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The business has a fifty day simple moving average of $89.76 and a 200 day simple moving average of $71.43. The company has a market capitalization of $18.51 billion, a P/E ratio of 18.89, a PEG ratio of 8.30 and a beta of 0.88.

Insider Activity at DocuSign

In other news, Director Daniel D. Springer sold 581,588 shares of the firm's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total value of $56,437,299.52. Following the sale, the director now directly owns 906,430 shares of the company's stock, valued at approximately $87,959,967.20. This trade represents a 39.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction dated Monday, December 2nd. The stock was 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 owns 100,062 shares in the company, valued at $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 693,537 shares of company stock valued at $66,575,817. Corporate insiders own 1.66% of the company's stock.

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.