Prakash Investment Advisors LLC Takes $809,000 Position in DocuSign, Inc. (NASDAQ:DOCU)

Prakash Investment Advisors LLC purchased a new position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,000 shares of the company's stock, valued at approximately $809,000. DocuSign accounts for approximately 0.8% of Prakash Investment Advisors LLC's investment portfolio, making the stock its 22nd biggest position.

Several other institutional investors have also recently made changes to their positions in DOCU. Toronto Dominion Bank raised its stake in DocuSign by 30.3% during the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company's stock worth $1,624,000 after buying an additional 6,081 shares during the period. Charles Schwab Investment Management Inc. grew its position in DocuSign by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company's stock valued at $82,478,000 after purchasing an additional 16,014 shares during the period. International Assets Investment Management LLC increased its stake in DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company's stock valued at $27,252,000 after purchasing an additional 431,295 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of DocuSign by 39.5% in the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company's stock valued at $12,514,000 after buying an additional 57,104 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of DocuSign by 7.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company's stock valued at $80,501,000 after buying an additional 85,987 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Insider Transactions at DocuSign

In other news, insider Robert Chatwani sold 14,800 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total value of $1,446,848.00. Following the transaction, the insider now directly owns 73,414 shares in the company, valued at $7,176,952.64. The trade was a 16.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.60, for a total value of $50,516.40. Following the sale, the director now owns 7,736 shares of the company's stock, valued at $731,825.60. This represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 693,773 shares of company stock valued at $66,727,926 over the last three months. Corporate insiders own 1.66% of the company's stock.

DocuSign Trading Down 2.9 %

DocuSign stock traded down $2.46 during midday trading on Tuesday, hitting $81.23. The stock had a trading volume of 1,399,123 shares, compared to its average volume of 2,019,095. 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 $16.41 billion, a PE ratio of 16.74, a P/E/G ratio of 6.94 and a beta of 0.89. The firm's fifty day moving average is $91.45 and its two-hundred day moving average is $77.09.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DOCU. UBS Group lifted their target price on DocuSign from $60.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Hsbc Global Res upgraded shares of DocuSign to a "moderate sell" rating in a research note on Friday, December 6th. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a research note on Tuesday, February 4th. HSBC reaffirmed a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Finally, JMP Securities restated a "market outperform" rating and issued a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average 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.