Good Life Advisors LLC Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

Good Life Advisors LLC bought a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,474 shares of the company’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOCU. KBC Group NV boosted its position in shares of DocuSign by 209.8% during the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after acquiring an additional 783,419 shares during the last quarter. Fiera Capital Corp bought a new position in shares of DocuSign during the 4th quarter valued at approximately $47,920,000. Principal Financial Group Inc. boosted its position in shares of DocuSign by 3,026.7% during the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock valued at $49,179,000 after acquiring an additional 529,308 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of DocuSign by 42.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock valued at $90,625,000 after acquiring an additional 434,312 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of DocuSign by 5,660.8% during 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. 77.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 14,800 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the transaction, the insider now owns 73,414 shares of the company’s stock, valued at approximately $7,176,952.64. This represents a 16.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on Friday, February 14th. The stock was 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 in the company, valued at $6,765,251.90. The trade was a 9.32 % 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 worth $66,727,926 over the last quarter. Company insiders own 1.66% of the company’s stock.

DocuSign Stock Down 2.6 %

DOCU stock opened at $83.96 on Friday. The business’s fifty day simple moving average is $91.94 and its two-hundred day simple moving average is $76.27. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The firm has a market cap of $16.96 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 6.98 and a beta of 0.89.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Piper Sandler increased their price target on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Morgan Stanley increased their price target on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price target (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Finally, UBS Group increased their price target on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, DocuSign has a consensus rating of “Hold” and an average 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.