Metis Global Partners LLC Reduces Position in DocuSign, Inc. (NASDAQ:DOCU)

Metis Global Partners LLC decreased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 22.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,783 shares of the company’s stock after selling 826 shares during the period. Metis Global Partners LLC’s holdings in DocuSign were worth $250,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. State Street Corp increased its position in DocuSign by 2.3% during the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after buying an additional 120,743 shares in the last quarter. Geode Capital Management LLC increased its position in DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after buying an additional 53,554 shares in the last quarter. Thrivent Financial for Lutherans increased its position in DocuSign by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock worth $141,398,000 after buying an additional 112,919 shares in the last quarter. FMR LLC increased its position in DocuSign by 16.8% during the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $136,156,000 after buying an additional 315,073 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in DocuSign by 61.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock worth $150,525,000 after buying an additional 637,505 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Trading Down 3.1 %

DOCU stock opened at $79.77 on Friday. The stock has a 50-day moving average price of $89.32 and a two-hundred day moving average price of $78.29. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The company has a market cap of $16.12 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the transaction, the chief financial officer now owns 77,851 shares in the company, valued at $6,765,251.90. The trade was a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the transaction, the chief executive officer now owns 156,050 shares in the company, valued at approximately $14,050,742. This represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 686,010 shares of company stock worth $66,102,694 over the last quarter. 1.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DOCU shares. Morgan Stanley raised their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Wells Fargo & Company lifted their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Robert W. Baird lifted their price objective on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Citigroup lifted their price objective on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign presently has an average 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.