CFO4Life Group LLC Invests $778,000 in DocuSign, Inc. (NASDAQ:DOCU)

CFO4Life Group LLC acquired a new position in shares of 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 acquired 8,648 shares of the company's stock, valued at approximately $778,000.

A number of other hedge funds also recently made changes to their positions in the stock. State Street Corp raised its position in shares of DocuSign by 2.3% during the third 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 last quarter. Geode Capital Management LLC raised its position in shares of DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company's stock worth $215,789,000 after acquiring an additional 53,554 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of 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 acquiring an additional 112,919 shares during the last quarter. FMR LLC raised its position in shares of DocuSign by 16.8% during the third quarter. FMR LLC now owns 2,192,885 shares of the company's stock worth $136,156,000 after acquiring an additional 315,073 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of DocuSign by 61.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company's stock worth $150,525,000 after acquiring an additional 637,505 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DOCU has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a research report on Friday, December 6th. Piper Sandler lifted their target price on DocuSign from $60.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a report on Tuesday, February 4th. Hsbc Global Res upgraded DocuSign to a "moderate sell" rating in a report on Friday, December 6th. Finally, Wells Fargo & Company lifted their target price on DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $92.91.

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DocuSign Stock Performance

Shares of DocuSign stock opened at $80.13 on Thursday. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The stock has a 50 day moving average price of $88.37 and a two-hundred day moving average price of $79.07. The stock has a market capitalization of $16.19 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

Insider Buying and Selling at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was 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 owns 7,736 shares of the company's stock, valued at approximately $731,825.60. This trade represents a 6.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 15,588 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total value of $1,524,194.64. Following the completion of the sale, the chief financial officer now directly owns 85,851 shares of the company's stock, valued at $8,394,510.78. This trade represents a 15.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,422 shares of company stock valued at $9,665,394. 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.

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