DocuSign, Inc. (NASDAQ:DOCU) Shares Purchased by Merit Financial Group LLC

Merit Financial Group LLC raised its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 22.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,516 shares of the company's stock after purchasing an additional 3,352 shares during the period. Merit Financial Group LLC's holdings in DocuSign were worth $1,665,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its stake in shares of DocuSign by 30.3% in the third 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 in the last quarter. Inspire Investing LLC purchased a new position in DocuSign in the 3rd quarter worth approximately $911,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of DocuSign by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company's stock worth $82,478,000 after purchasing an additional 16,014 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of DocuSign by 5,660.8% in the third 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. Finally, Quantinno Capital Management LP increased its holdings 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 purchasing an additional 57,104 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Insiders Place Their Bets

In other news, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the transaction, the director now owns 150,253 shares in the company, valued at approximately $13,712,088.78. This trade represents a 6.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the transaction, the chief executive officer now directly owns 100,062 shares of the company's stock, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 693,537 shares of company stock worth $66,575,817 over the last three months. Company insiders own 1.66% of the company's stock.

DocuSign Price Performance

Shares of DOCU stock traded up $1.73 on Tuesday, hitting $91.33. The stock had a trading volume of 1,292,952 shares, compared to its average volume of 2,116,048. The company's 50 day moving average price is $88.93 and its 200-day moving average price is $70.63. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The firm has a market capitalization of $18.45 billion, a P/E ratio of 18.83, a P/E/G ratio of 8.10 and a beta of 0.88.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Hsbc Global Res upgraded DocuSign to a "moderate sell" rating in a report on Friday, December 6th. Jefferies Financial Group upped their price objective on shares of DocuSign from $80.00 to $95.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. UBS Group boosted their target price on shares of DocuSign from $60.00 to $100.00 and gave the company a "neutral" rating in a report on Friday, December 6th. HSBC restated a "reduce" rating on shares of DocuSign in a report on Friday, December 6th. Finally, Citigroup upped their price objective on DocuSign from $87.00 to $113.00 and gave the company a "buy" rating in a report on Friday, December 6th. 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's stock. According to data from MarketBeat.com, DocuSign has a consensus rating of "Hold" and an average target price of $92.45.

DocuSign Company 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.