Strategic Financial Concepts LLC Invests $1.16 Million in DocuSign, Inc. (NASDAQ:DOCU)

Strategic Financial Concepts LLC bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,879 shares of the company's stock, valued at approximately $1,158,000.

Several other institutional investors have also recently added to or reduced their stakes in DOCU. Itau Unibanco Holding S.A. acquired a new position in DocuSign in the 3rd quarter valued at about $28,000. Brooklyn Investment Group acquired a new position in DocuSign during the 3rd quarter worth approximately $33,000. Modus Advisors LLC acquired a new position in DocuSign during the 4th quarter worth approximately $36,000. Avion Wealth increased its position in DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after purchasing an additional 368 shares during the period. Finally, Reston Wealth Management LLC acquired a new position in DocuSign during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 77.64% of the company's stock.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the transaction, the chief executive officer now owns 100,062 shares of the company's stock, valued at $8,058,993.48. This represents a 7.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Daniel D. Springer sold 581,588 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total value of $56,437,299.52. Following the transaction, the director now directly owns 906,430 shares in the company, valued at approximately $87,959,967.20. This represents a 39.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 693,773 shares of company stock valued at $66,727,926 in the last quarter. 1.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Piper Sandler boosted their target price on DocuSign from $60.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Hsbc Global Res raised DocuSign to a "moderate sell" rating in a research note on Friday, December 6th. Morgan Stanley boosted their price target on DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a research note on Friday, December 6th. Wells Fargo & Company boosted their price target on DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research note on Friday, December 6th. Finally, Robert W. Baird boosted their price target on DocuSign from $59.00 to $100.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, DocuSign currently has a consensus rating of "Hold" and a consensus price target of $92.45.

DocuSign Stock Performance

DOCU stock traded down $2.24 on Friday, reaching $83.96. The company had a trading volume of 1,974,777 shares, compared to its average volume of 1,923,247. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The company's fifty day moving average is $91.73 and its 200 day moving average is $76.50. The company has a market cap of $16.96 billion, a P/E ratio of 17.31, a PEG ratio of 6.94 and a beta of 0.89.

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.