World Investment Advisors LLC Acquires New Shares in DocuSign, Inc. (NASDAQ:DOCU)

World Investment Advisors LLC acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 37,274 shares of the company's stock, valued at approximately $2,314,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DOCU. Itau Unibanco Holding S.A. purchased a new stake in DocuSign during the third quarter valued at about $28,000. Brooklyn Investment Group bought a new stake in DocuSign in the 3rd quarter worth approximately $33,000. Reston Wealth Management LLC purchased a new stake in DocuSign in the third quarter worth approximately $47,000. nVerses Capital LLC bought a new position in DocuSign during the second quarter valued at approximately $48,000. Finally, Quarry LP purchased a new position in shares of DocuSign during the second quarter worth approximately $53,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Price Performance

DOCU stock traded down $0.04 during trading on Friday, reaching $94.48. The company had a trading volume of 2,691,817 shares, compared to its average volume of 2,985,802. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The business has a 50 day moving average of $78.04 and a 200 day moving average of $63.38. The company has a market cap of $19.09 billion, a P/E ratio of 19.48, a PEG ratio of 8.72 and a beta of 0.92.

Insider Transactions at DocuSign

In related news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the transaction, the insider now directly owns 70,748 shares in the company, valued at $3,923,684.08. This trade represents a 17.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 7,648 shares of the company's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $62.47, for a total transaction of $477,770.56. Following the completion of the sale, the chief executive officer now owns 115,589 shares in the company, valued at approximately $7,220,844.83. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 651,184 shares of company stock valued at $60,878,829. Corporate insiders own 1.66% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DOCU shares. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a report on Friday, December 6th. Citigroup raised their price objective on DocuSign from $87.00 to $113.00 and gave the company a "buy" rating in a research note on Friday, December 6th. HSBC restated a "reduce" rating on shares of DocuSign in a report on Friday, December 6th. UBS Group boosted their price objective on DocuSign from $60.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Finally, Hsbc Global Res raised DocuSign to a "moderate sell" rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $92.45.

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.