51,858 Shares in DocuSign, Inc. (NASDAQ:DOCU) Purchased by Van ECK Associates Corp

Van ECK Associates Corp acquired a new position in DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 51,858 shares of the company’s stock, valued at approximately $4,664,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC raised its position in DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after purchasing an additional 145 shares during the period. Linden Thomas Advisory Services LLC raised its position in DocuSign by 1.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 13,540 shares of the company’s stock worth $1,218,000 after purchasing an additional 149 shares during the period. J.W. Cole Advisors Inc. raised its position in DocuSign by 2.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after purchasing an additional 155 shares during the period. Optimist Retirement Group LLC raised its position in DocuSign by 3.8% in the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock worth $274,000 after purchasing an additional 161 shares during the period. Finally, Covestor Ltd raised its position in DocuSign by 5.8% in the 3rd quarter. Covestor Ltd now owns 3,306 shares of the company’s stock worth $205,000 after purchasing an additional 182 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Price Performance

Shares of DOCU stock opened at $87.34 on Wednesday. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The stock’s 50-day moving average is $92.44 and its 200 day moving average is $75.87. The company has a market cap of $17.64 billion, a P/E ratio of 18.01, a PEG ratio of 7.56 and a beta of 0.89.

Insider Activity at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the sale, the director now owns 7,736 shares of the company’s stock, valued at $731,825.60. This trade represents a 6.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Chatwani sold 14,800 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total value of $1,446,848.00. Following the completion of the sale, the insider now owns 73,414 shares of the company’s stock, valued at approximately $7,176,952.64. This trade represents a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 693,773 shares of company stock valued at $66,727,926 over the last quarter. 1.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DOCU. UBS Group raised their target price on shares of DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Morgan Stanley raised their target price on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Citigroup raised their target price 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. Jefferies Financial Group raised their target price on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign currently has an average 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.