Bank of New York Mellon Corp Buys 47,331 Shares of Docusign Inc. $DOCU

Bank of New York Mellon Corp boosted its stake in Docusign Inc. (NASDAQ:DOCU) by 3.1% during the third quarter, Holdings Channel reports. The institutional investor owned 1,594,884 shares of the company’s stock after buying an additional 47,331 shares during the period. Bank of New York Mellon Corp’s holdings in Docusign were worth $114,975,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Federated Hermes Inc. lifted its position in Docusign by 101.0% during the third quarter. Federated Hermes Inc. now owns 230,524 shares of the company’s stock worth $16,618,000 after acquiring an additional 115,829 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Docusign by 36.8% during the third quarter. Valeo Financial Advisors LLC now owns 3,519 shares of the company’s stock worth $254,000 after purchasing an additional 947 shares during the period. Retirement Systems of Alabama lifted its holdings in Docusign by 11.1% during the 3rd quarter. Retirement Systems of Alabama now owns 519,106 shares of the company’s stock worth $37,422,000 after purchasing an additional 51,922 shares during the last quarter. First Citizens Bank & Trust Co. boosted its stake in Docusign by 110.6% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 11,535 shares of the company’s stock valued at $832,000 after purchasing an additional 6,057 shares during the period. Finally, Taylor Financial Group Inc. acquired a new position in Docusign in the 3rd quarter valued at $288,000. 77.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on DOCU. Needham & Company LLC reissued a “hold” rating on shares of Docusign in a report on Wednesday, December 17th. Zacks Research lowered shares of Docusign from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Robert W. Baird cut their price objective on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Wedbush decreased their target price on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Finally, Evercore ISI lowered their target price on shares of Docusign from $92.00 to $80.00 and set an “in-line” rating on the stock in a report on Friday, December 5th. Six research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $85.13.

Insider Activity at Docusign

In other Docusign news, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $69.60, for a total value of $1,827,000.00. Following the transaction, the chief executive officer owned 142,261 shares in the company, valued at $9,901,365.60. The trade was a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert Chatwani sold 13,818 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total transaction of $944,183.94. Following the completion of the transaction, the insider directly owned 70,197 shares of the company’s stock, valued at $4,796,561.01. This trade represents a 16.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 78,292 shares of company stock worth $5,374,260 in the last three months. Insiders own 1.66% of the company’s stock.

Docusign Price Performance

Shares of DOCU opened at $52.54 on Monday. The firm has a 50 day simple moving average of $65.41 and a two-hundred day simple moving average of $70.89. Docusign Inc. has a one year low of $51.90 and a one year high of $99.30. The company has a market cap of $10.52 billion, a P/E ratio of 36.74, a P/E/G ratio of 2.58 and a beta of 1.01.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.