Strategic Financial Concepts LLC Acquires New Stake in DocuSign, Inc. (NASDAQ:DOCU)

Strategic Financial Concepts LLC bought a new position in DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, Holdings Channel reports. The firm bought 12,879 shares of the company’s stock, valued at approximately $1,158,000.

Several other hedge funds have also recently made changes to their positions in DOCU. Itau Unibanco Holding S.A. purchased a new stake in DocuSign in the 3rd quarter worth about $28,000. Brooklyn Investment Group purchased a new position in shares of DocuSign in the third quarter worth about $33,000. Modus Advisors LLC purchased a new position in shares of DocuSign in the fourth quarter worth about $36,000. Reston Wealth Management LLC bought a new stake in shares of DocuSign in the third quarter valued at approximately $47,000. Finally, Avior Wealth Management LLC lifted its stake in shares of DocuSign by 36.5% during the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after buying an additional 145 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DOCU shares. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Robert W. Baird increased their price objective on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. HSBC restated a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, DocuSign has an average rating of “Hold” and an average target price of $92.45.

DocuSign Price Performance

DOCU stock opened at $87.92 on Wednesday. The firm has a 50 day simple moving average of $92.79 and a two-hundred day simple moving average of $74.72. The stock has a market cap of $17.76 billion, a PE ratio of 18.13, a P/E/G ratio of 7.56 and a beta of 0.89. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

Insider Transactions at DocuSign

In other DocuSign news, Director Daniel D. Springer sold 581,588 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the sale, the director now owns 906,430 shares in the company, valued at $87,959,967.20. This trade represents a 39.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the transaction, the director now owns 7,736 shares of the company’s stock, valued at $731,825.60. The trade was a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 685,773 shares of company stock valued at $66,032,726. Insiders own 1.66% of the company’s stock.

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.