Oak Harvest Investment Services Raises Stake in DocuSign, Inc. (NASDAQ:DOCU)

Oak Harvest Investment Services grew its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 70.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,770 shares of the company's stock after purchasing an additional 7,770 shares during the period. Oak Harvest Investment Services' holdings in DocuSign were worth $1,688,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. lifted its position in DocuSign by 16.4% in the second quarter. Sei Investments Co. now owns 22,341 shares of the company's stock valued at $1,195,000 after purchasing an additional 3,141 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of DocuSign by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,260 shares of the company's stock valued at $2,796,000 after acquiring an additional 1,628 shares during the last quarter. Creative Planning grew its position in DocuSign by 9.2% in the 2nd quarter. Creative Planning now owns 13,687 shares of the company's stock worth $732,000 after purchasing an additional 1,157 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in DocuSign by 3.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 32,709 shares of the company's stock valued at $1,750,000 after purchasing an additional 938 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of DocuSign during the second quarter valued at $53,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Blake Jeffrey Grayson sold 15,588 shares of DocuSign stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the transaction, the chief financial officer now directly owns 85,851 shares of the company's stock, valued at $8,394,510.78. The trade was a 15.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the transaction, the chief executive officer now owns 100,062 shares in the company, valued at approximately $8,058,993.48. This trade represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 685,773 shares of company stock valued at $66,032,726 in the last ninety days. Company insiders own 1.66% of the company's stock.

DocuSign Stock Down 0.2 %

NASDAQ:DOCU traded down $0.23 during midday trading on Monday, hitting $96.50. The company had a trading volume of 2,719,058 shares, compared to its average volume of 2,158,718. The company has a market capitalization of $19.50 billion, a PE ratio of 19.90, a P/E/G ratio of 8.74 and a beta of 0.88. The stock's fifty day moving average price is $91.32 and its 200-day moving average price is $73.08. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a research report on Friday, December 6th. Robert W. Baird upped their price target on shares of DocuSign from $59.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Morgan Stanley lifted their price target on shares of DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a report on Friday, December 6th. Royal Bank of Canada reiterated a "sector perform" rating and set a $90.00 price objective (up from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. increased their price objective on DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research note on Tuesday, December 3rd. Three research 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, the company has an average rating of "Hold" and an average target price of $92.45.

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.