Charles Schwab Investment Management Inc. Buys 13,598 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Charles Schwab Investment Management Inc. raised its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,341,953 shares of the company's stock after purchasing an additional 13,598 shares during the period. Charles Schwab Investment Management Inc. owned 0.66% of DocuSign worth $120,695,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in DOCU. Synergy Financial Group LTD grew its stake in shares of DocuSign by 3.4% in the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company's stock worth $381,000 after acquiring an additional 140 shares during the last quarter. Avior Wealth Management LLC boosted its stake in DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock worth $49,000 after purchasing an additional 145 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in DocuSign by 1.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 13,540 shares of the company's stock valued at $1,218,000 after purchasing an additional 149 shares during the last quarter. Optimist Retirement Group LLC increased its stake in DocuSign by 3.8% during the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company's stock valued at $274,000 after purchasing an additional 161 shares in the last quarter. Finally, Covestor Ltd raised its holdings in DocuSign by 5.8% in the third quarter. Covestor Ltd now owns 3,306 shares of the company's stock worth $205,000 after buying an additional 182 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In other news, insider Robert Chatwani sold 14,800 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the sale, the insider now directly owns 73,414 shares of the company's stock, valued at $7,176,952.64. This represents a 16.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,422 shares of company stock worth $9,665,394. Company insiders own 1.66% of the company's stock.

DocuSign Stock Up 0.7 %

NASDAQ:DOCU traded up $0.57 during mid-day trading on Wednesday, hitting $80.07. 1,453,049 shares of the company traded hands, compared to its average volume of 2,081,539. The stock's fifty day moving average price is $88.57 and its 200-day moving average price is $79.06. The firm has a market cap of $16.18 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. UBS Group raised their price target on shares of DocuSign from $60.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Morgan Stanley upped their price target on DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a report on Friday, December 6th. JMP Securities reaffirmed a "market outperform" rating and set a $124.00 price objective on shares of DocuSign in a research report on Tuesday, January 7th. Jefferies Financial Group boosted their target price on DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Finally, HSBC reaffirmed a "reduce" rating on shares of DocuSign in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $92.91.

About DocuSign

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.