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

Strategic Financial Concepts LLC purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,879 shares of the company’s stock, valued at approximately $1,158,000.

Several other institutional investors and hedge funds have also made changes to their positions in DOCU. Toronto Dominion Bank lifted its holdings in shares of DocuSign by 30.3% during the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after purchasing an additional 6,081 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in DocuSign by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after acquiring an additional 16,014 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of DocuSign by 5,660.8% in the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after acquiring an additional 431,295 shares during the last quarter. Quantinno Capital Management LP increased its stake 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 worth $12,514,000 after acquiring an additional 57,104 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of DocuSign by 7.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock worth $80,501,000 after purchasing an additional 85,987 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Stock Performance

Shares of DocuSign stock opened at $87.34 on Wednesday. The firm has a market capitalization of $17.64 billion, a PE ratio of 18.01, a P/E/G ratio of 7.56 and a beta of 0.89. The firm’s 50-day moving average price is $92.44 and its 200 day moving average price is $75.87. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86.

Insider Transactions at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the transaction, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the sale, the director now owns 7,736 shares of the company’s stock, valued at $731,825.60. This trade represents a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 693,773 shares of company stock valued at $66,727,926. Corporate insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on DOCU. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. UBS Group upped their target price on DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. JMP Securities reiterated a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research report on Tuesday, January 7th. Morgan Stanley upped their price objective on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company lifted their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued 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 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.