Mutual of America Capital Management LLC Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Mutual of America Capital Management LLC acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 107,220 shares of the company’s stock, valued at approximately $9,643,000.

A number of other institutional investors also recently modified their holdings of DOCU. Creative Planning raised its position in DocuSign by 5.6% in the 3rd quarter. Creative Planning now owns 14,453 shares of the company’s stock worth $897,000 after purchasing an additional 766 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of DocuSign by 13.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,466 shares of the company’s stock valued at $214,000 after acquiring an additional 413 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in DocuSign by 77.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,603 shares of the company’s stock valued at $907,000 after acquiring an additional 6,390 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in DocuSign in the third quarter worth about $1,503,000. Finally, abrdn plc raised its holdings in DocuSign by 67.8% during the 3rd quarter. abrdn plc now owns 56,172 shares of the company’s stock worth $3,488,000 after purchasing an additional 22,689 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction on Friday, February 14th. The shares were 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the sale, the director now directly owns 150,253 shares in the company, valued at $13,712,088.78. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 693,773 shares of company stock valued at $66,727,926. 1.66% of the stock is owned by corporate insiders.

DocuSign Price Performance

NASDAQ DOCU opened at $83.17 on Friday. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The firm has a market cap of $16.80 billion, a P/E ratio of 17.15, a P/E/G ratio of 6.94 and a beta of 0.89. The stock’s 50-day moving average is $90.43 and its 200-day moving average is $77.74.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DOCU shares. UBS Group raised their target price on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Piper Sandler raised their price objective on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company upped 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 Friday, December 6th. HSBC restated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Tuesday, February 4th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, DocuSign has a consensus rating of “Hold” and a consensus price target of $92.45.

DocuSign Profile

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.