Oak Harvest Investment Services Has $1.69 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Oak Harvest Investment Services boosted its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 70.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,770 shares of the company’s stock after buying an additional 7,770 shares during the quarter. Oak Harvest Investment Services’ holdings in DocuSign were worth $1,688,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mediolanum International Funds Ltd raised its holdings in DocuSign by 25.4% during the 4th quarter. Mediolanum International Funds Ltd now owns 158,993 shares of the company’s stock worth $14,544,000 after purchasing an additional 32,245 shares during the last quarter. Swedbank AB grew its stake in shares of DocuSign by 33.1% during the fourth quarter. Swedbank AB now owns 165,170 shares of the company’s stock worth $14,855,000 after purchasing an additional 41,039 shares during the period. Stonegate Investment Group LLC acquired a new stake in shares of DocuSign in the 4th quarter valued at approximately $216,000. KBC Group NV boosted its position in shares of DocuSign by 32.7% during the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock worth $138,067,000 after purchasing an additional 378,233 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in DocuSign during the 4th quarter worth $96,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the sale, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at $8,058,993.48. The trade was a 7.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the sale, the director now directly owns 7,736 shares of the company’s stock, valued at $731,825.60. This trade represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 685,773 shares of company stock valued at $66,032,726 in the last ninety days. 1.66% of the stock is owned by company insiders.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $95.85 on Friday. The company’s 50 day moving average price is $90.73 and its 200-day moving average price is $72.41. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The company has a market capitalization of $19.36 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 8.63 and a beta of 0.88.

Analysts Set New Price Targets

Several analysts have commented on the stock. JMP Securities restated a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price objective (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Finally, Wells Fargo & Company raised their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock 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.