Executive Wealth Management LLC acquired a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 37,660 shares of the company's stock, valued at approximately $2,338,000.
Other large investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in DocuSign during the 3rd quarter valued at approximately $28,000. Brooklyn Investment Group purchased a new position in DocuSign during the 3rd quarter valued at $33,000. Reston Wealth Management LLC purchased a new stake in shares of DocuSign in the 3rd quarter worth $47,000. nVerses Capital LLC purchased a new stake in shares of DocuSign in the 2nd quarter worth $48,000. Finally, Quarry LP purchased a new stake in shares of DocuSign in the 2nd quarter worth $53,000. 77.64% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, CFO Blake Jeffrey Grayson sold 9,552 shares of DocuSign stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total value of $657,177.60. Following the completion of the sale, the chief financial officer now directly owns 78,265 shares of the company's stock, valued at approximately $5,384,632. The trade was a 10.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,648 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $62.47, for a total value of $477,770.56. Following the transaction, the chief executive officer now directly owns 115,589 shares of the company's stock, valued at $7,220,844.83. The trade was a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,596 shares of company stock worth $4,441,529. 1.66% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research analysts have recently commented on DOCU shares. JPMorgan Chase & Co. boosted their price target on DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research report on Tuesday, December 3rd. Bank of America raised their price objective on DocuSign from $60.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th. JMP Securities raised their target price on DocuSign from $108.00 to $124.00 and gave the stock a "market outperform" rating in a report on Friday. Citigroup raised their target price on DocuSign from $87.00 to $113.00 and gave the stock a "buy" rating in a report on Friday. Finally, HSBC reissued a "reduce" rating on shares of DocuSign in a report on Friday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $92.45.
Check Out Our Latest Stock Report on DocuSign
DocuSign Price Performance
DocuSign stock traded down $6.41 during trading on Tuesday, reaching $95.85. 6,786,668 shares of the company were exchanged, compared to its average volume of 2,984,491. 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 $19.45 billion, a P/E ratio of 19.76, a PEG ratio of 11.08 and a beta of 0.92. The stock's 50 day simple moving average is $75.46 and its two-hundred day simple moving average is $62.36.
About DocuSign
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Free Report)
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.
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