MONECO Advisors LLC Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

MONECO Advisors LLC bought a new stake in DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, Holdings Channel reports. The institutional investor bought 17,030 shares of the company’s stock, valued at approximately $1,532,000.

A number of other hedge funds have also made changes to their positions in DOCU. Toronto Dominion Bank grew its position in DocuSign by 30.3% during the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after purchasing an additional 6,081 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in DocuSign by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after buying an additional 16,014 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after buying an additional 431,295 shares during the period. Quantinno Capital Management LP grew its holdings in shares of DocuSign by 39.5% during the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after acquiring an additional 57,104 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of DocuSign by 7.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock worth $80,501,000 after acquiring an additional 85,987 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the sale, the chief financial officer now owns 77,851 shares in the company, valued at $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 available through this link. Also, CEO Allan C. Thygesen sold 7,763 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the sale, the chief executive officer now directly owns 100,062 shares in the company, valued at $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 693,773 shares of company stock worth $66,727,926 in the last quarter. 1.66% of the stock is currently owned by company insiders.

DocuSign Trading Down 2.6 %

Shares of DocuSign stock opened at $83.96 on Monday. The firm has a fifty day simple moving average of $91.73 and a 200-day simple moving average of $76.87. The stock has a market capitalization of $16.96 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 6.94 and a beta of 0.89. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group lifted their price objective on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company lifted their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price objective (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. Robert W. Baird lifted their target price 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Tuesday, February 4th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $92.45.

DocuSign Company 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.