Fifth Third Wealth Advisors LLC Buys Shares of 5,775 DocuSign, Inc. (NASDAQ:DOCU)

Fifth Third Wealth Advisors LLC bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,775 shares of the company's stock, valued at approximately $519,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp increased its stake in DocuSign by 2.3% during the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company's stock worth $333,604,000 after acquiring an additional 120,743 shares during the period. Pacer Advisors Inc. increased its position in shares of DocuSign by 77.9% in the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company's stock worth $188,318,000 after purchasing an additional 1,541,816 shares during the period. Geode Capital Management LLC raised its stake in DocuSign by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company's stock valued at $215,789,000 after purchasing an additional 53,554 shares in the last quarter. Clearbridge Investments LLC lifted its position in DocuSign by 4.1% during the second quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company's stock worth $156,265,000 after purchasing an additional 115,616 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in DocuSign by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company's stock worth $141,398,000 after buying an additional 112,919 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DOCU has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $124.00 price target on shares of DocuSign in a report on Tuesday, January 7th. Wells Fargo & Company upped their target price on DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research note on Friday, December 6th. Morgan Stanley lifted their price target on DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a research note on Friday, December 6th. Royal Bank of Canada reissued a "sector perform" rating and set a $90.00 price target (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research note on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, DocuSign currently has an average rating of "Hold" and an average price target of $92.45.

DocuSign Stock Down 1.7 %

Shares of DOCU stock traded down $1.56 during mid-day trading on Friday, reaching $89.60. 2,379,686 shares of the stock traded hands, compared to its average volume of 2,200,838. The company has a market cap of $18.10 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 8.17 and a beta of 0.88. The stock's fifty day simple moving average is $88.76 and its two-hundred day simple moving average is $70.15. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86.

Insider Buying and Selling

In other news, Director Peter Solvik sold 10,000 shares of the firm's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $91.26, for a total transaction of $912,600.00. Following the completion of the transaction, the director now owns 150,253 shares of the company's stock, valued at approximately $13,712,088.78. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction on Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the transaction, the chief executive officer now owns 107,825 shares in the company, valued at approximately $7,542,358.75. This trade represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 693,537 shares of company stock worth $66,575,817 in the last ninety days. Company insiders own 1.66% of the company's stock.

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.