State Street Corp Purchases 120,743 Shares of DocuSign, Inc. (NASDAQ:DOCU)

State Street Corp boosted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,372,939 shares of the company's stock after purchasing an additional 120,743 shares during the quarter. State Street Corp owned 2.65% of DocuSign worth $333,604,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in shares of DocuSign during the 3rd quarter worth about $28,000. Brooklyn Investment Group acquired a new stake in DocuSign during the third quarter worth about $33,000. Reston Wealth Management LLC bought a new position in DocuSign during the third quarter valued at about $47,000. nVerses Capital LLC acquired a new position in DocuSign in the 2nd quarter valued at approximately $48,000. Finally, Quarry LP bought a new stake in shares of DocuSign in the 2nd quarter worth approximately $53,000. 77.64% of the stock is owned by institutional investors.

DocuSign Price Performance

Shares of DOCU traded down $6.41 on Tuesday, hitting $95.85. The company's stock had a trading volume of 6,657,996 shares, compared to its average volume of 2,983,952. The company has a 50 day moving average price of $75.46 and a 200 day moving average price of $62.36. The company has a market capitalization of $19.45 billion, a PE ratio of 19.76, a PEG ratio of 11.08 and a beta of 0.92. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 14,036 shares of the business's stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $55.47, for a total transaction of $778,576.92. Following the completion of the transaction, the chief financial officer now owns 87,611 shares in the company, valued at approximately $4,859,782.17. The trade was a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following the transaction, the director now owns 7,202 shares in the company, valued at $407,345.12. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,596 shares of company stock worth $4,441,529 in the last 90 days. Corporate insiders own 1.66% of the company's stock.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of research reports. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a research report on Friday. JMP Securities boosted their price target on shares of DocuSign from $108.00 to $124.00 and gave the company a "market outperform" rating in a report on Friday. Morgan Stanley increased their price objective on shares of DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a research note on Friday. JPMorgan Chase & Co. lifted their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company increased their price target on shares of DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus 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.