JPMorgan Chase & Co. Cuts Stake in DocuSign, Inc. (NASDAQ:DOCU)

JPMorgan Chase & Co. decreased its position in DocuSign, Inc. (NASDAQ:DOCU) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,000,249 shares of the company’s stock after selling 3,020 shares during the period. JPMorgan Chase & Co.’s holdings in DocuSign were worth $62,105,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in DOCU. Itau Unibanco Holding S.A. acquired a new stake in DocuSign in the third quarter valued at about $28,000. Brooklyn Investment Group acquired a new stake in shares of DocuSign in the 3rd quarter valued at approximately $33,000. Reston Wealth Management LLC acquired a new stake in shares of DocuSign in the 3rd quarter valued at approximately $47,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of DocuSign in the third quarter valued at approximately $51,000. Finally, Quarry LP acquired a new position in DocuSign during the second quarter worth $53,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Trading Down 0.2 %

DocuSign stock opened at $90.21 on Friday. The stock has a 50-day moving average price of $85.19 and a 200 day moving average price of $67.53. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The stock has a market cap of $18.22 billion, a PE ratio of 18.60, a P/E/G ratio of 8.72 and a beta of 0.92.

Insider Transactions at DocuSign

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total transaction of $676,275.00. Following the completion of the sale, the insider now directly owns 43,781 shares in the company, valued at $3,947,732.77. This represents a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 7,764 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the transaction, the chief executive officer now owns 107,825 shares in the company, valued at $7,542,358.75. The trade was a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 700,589 shares of company stock worth $66,829,120 over the last ninety days. 1.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price (up from $57.00) on shares of DocuSign in a research report on Friday, December 6th. UBS Group lifted their price target on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Morgan Stanley upped their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, Citigroup lifted their price objective on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.