Gateway Investment Advisers LLC Purchases Shares of 11,392 Docusign Inc. $DOCU

Gateway Investment Advisers LLC purchased a new stake in shares of Docusign Inc. (NASDAQ:DOCU) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 11,392 shares of the company’s stock, valued at approximately $821,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Twin Peaks Wealth Advisors LLC acquired a new stake in Docusign in the 2nd quarter valued at approximately $43,000. SJS Investment Consulting Inc. boosted its position in Docusign by 5,318.2% during the 3rd quarter. SJS Investment Consulting Inc. now owns 596 shares of the company’s stock worth $43,000 after acquiring an additional 585 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Docusign by 31.3% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 595 shares of the company’s stock worth $46,000 after purchasing an additional 142 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Docusign by 48.6% during the second quarter. First Horizon Advisors Inc. now owns 590 shares of the company’s stock valued at $46,000 after purchasing an additional 193 shares during the period. Finally, Ancora Advisors LLC raised its stake in shares of Docusign by 90.9% during the first quarter. Ancora Advisors LLC now owns 735 shares of the company’s stock valued at $60,000 after purchasing an additional 350 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Docusign Price Performance

DOCU stock opened at $64.34 on Tuesday. The firm has a market cap of $12.89 billion, a PE ratio of 44.99, a P/E/G ratio of 3.20 and a beta of 0.99. Docusign Inc. has a 12 month low of $63.41 and a 12 month high of $99.30. The firm has a 50 day simple moving average of $68.65 and a 200 day simple moving average of $73.09.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Robert W. Baird decreased their target price on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Morgan Stanley increased their price objective on shares of Docusign from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, September 8th. Argus reiterated a “hold” rating on shares of Docusign in a research note on Monday, September 8th. Royal Bank Of Canada cut their target price on Docusign from $95.00 to $70.00 and set a “sector perform” rating for the company in a research report on Monday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price target on shares of Docusign in a research note on Friday, October 3rd. Six analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $85.13.

Insider Activity at Docusign

In other news, Director James A. Beer sold 450 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $68.54, for a total transaction of $30,843.00. Following the completion of the sale, the director directly owned 14,478 shares of the company’s stock, valued at $992,322.12. This trade represents a 3.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Blake Jeffrey Grayson sold 9,515 shares of Docusign stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total value of $650,159.95. Following the completion of the transaction, the chief financial officer owned 118,213 shares in the company, valued at $8,077,494.29. The trade was a 7.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 27,542 shares of company stock worth $1,885,600. 1.01% of the stock is owned by corporate insiders.

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.