Kovitz Investment Group Partners LLC Purchases New Position in DocuSign, Inc. (NASDAQ:DOCU)

Kovitz Investment Group Partners LLC acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,715 shares of the company's stock, valued at approximately $350,000.

Other hedge funds also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in DocuSign during the third quarter worth $28,000. Brooklyn Investment Group bought a new position in shares of DocuSign in the 3rd quarter valued at about $33,000. Reston Wealth Management LLC acquired a new position in shares of DocuSign during the 3rd quarter worth about $47,000. nVerses Capital LLC bought a new stake in shares of DocuSign in the 2nd quarter valued at about $48,000. Finally, Quarry LP acquired a new stake in DocuSign in the 2nd quarter valued at about $53,000. Institutional investors own 77.64% of the company's stock.

DocuSign Stock Performance

Shares of NASDAQ DOCU traded down $0.04 during midday trading on Friday, reaching $94.48. The company's stock had a trading volume of 2,691,817 shares, compared to its average volume of 2,985,802. The company has a market cap of $19.09 billion, a P/E ratio of 19.48, a P/E/G ratio of 8.72 and a beta of 0.92. The business's 50 day moving average price is $78.04 and its two-hundred day moving average price is $63.34. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

Insider Transactions at DocuSign

In other news, Director Daniel D. Springer sold 581,588 shares of the company's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the completion of the sale, the director now owns 906,430 shares of the company's stock, valued at approximately $87,959,967.20. This represents a 39.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,648 shares of DocuSign stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total transaction of $477,770.56. Following the completion of the transaction, the chief executive officer now directly owns 115,589 shares in the company, valued at $7,220,844.83. This trade represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 651,184 shares of company stock valued at $60,878,829. 1.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on DOCU shares. Bank of America upped their price objective on DocuSign from $60.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, September 6th. JPMorgan Chase & Co. increased 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. Jefferies Financial Group lifted their price objective on shares of DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Robert W. Baird increased their price objective on shares of DocuSign from $59.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Finally, HSBC restated a "reduce" rating on shares of DocuSign in a research note on Friday, December 6th. Three 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. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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.