Gulf International Bank UK Ltd Decreases Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Gulf International Bank UK Ltd trimmed its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,839 shares of the company’s stock after selling 128 shares during the quarter. Gulf International Bank UK Ltd’s holdings in DocuSign were worth $1,424,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of DocuSign during the 3rd quarter valued at about $28,000. Kestra Investment Management LLC purchased a new stake in DocuSign in the 4th quarter worth about $30,000. Brooklyn Investment Group purchased a new stake in DocuSign in the 3rd quarter worth about $33,000. Modus Advisors LLC purchased a new stake in DocuSign in the 4th quarter worth about $36,000. Finally, First Horizon Advisors Inc. raised its position in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $83.17 on Friday. The firm has a market cap of $16.80 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 6.94 and a beta of 0.89. The firm’s 50 day simple moving average is $90.43 and its 200-day simple moving average is $77.74. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

Insider Transactions at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the transaction, the chief financial officer now directly owns 77,851 shares in the company, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction that occurred 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 represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 693,773 shares of company stock valued at $66,727,926. 1.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of recent analyst reports. Robert W. Baird increased their price objective on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Citigroup increased their price objective on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. HSBC reissued a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company increased their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Three 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.