Tidal Investments LLC Increases Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Tidal Investments LLC raised its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 62.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,946 shares of the company's stock after acquiring an additional 17,339 shares during the period. Tidal Investments LLC's holdings in DocuSign were worth $2,791,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in shares of DocuSign in the 3rd quarter worth about $28,000. Brooklyn Investment Group bought a new position in DocuSign during the third quarter worth about $33,000. Reston Wealth Management LLC bought a new stake in shares of DocuSign in the third quarter valued at approximately $47,000. nVerses Capital LLC purchased a new stake in shares of DocuSign during the 2nd quarter valued at approximately $48,000. Finally, Wilmington Savings Fund Society FSB bought a new position in DocuSign in the 3rd quarter worth approximately $51,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DocuSign

In related news, insider James P. Shaughnessy sold 7,500 shares of the firm's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total transaction of $508,725.00. Following the transaction, the insider now directly owns 43,301 shares in the company, valued at $2,937,106.83. This trade represents a 14.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel D. Springer sold 581,588 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the sale, the director now owns 906,430 shares of the company's stock, valued at $87,959,967.20. The trade was a 39.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 650,650 shares of company stock worth $60,848,626. 1.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on DOCU. Jefferies Financial Group increased 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. JPMorgan Chase & Co. raised their target price on DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a research note on Tuesday, December 3rd. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research report on Friday, December 6th. Morgan Stanley boosted their price objective on shares of DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a research note on Friday, December 6th. Finally, Bank of America upped their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, September 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $92.45.

DocuSign Stock Performance

NASDAQ:DOCU traded up $3.35 during mid-day trading on Monday, reaching $97.83. The stock had a trading volume of 4,819,711 shares, compared to its average volume of 2,993,376. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The firm has a 50 day moving average price of $78.04 and a two-hundred day moving average price of $63.41. The stock has a market capitalization of $19.76 billion, a P/E ratio of 19.88, a P/E/G ratio of 8.72 and a beta of 0.92.

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.