Gerber LLC Purchases Shares of 2,400 DocuSign, Inc. (NASDAQ:DOCU)

Gerber LLC purchased a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,400 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. US Bancorp DE raised its stake in shares of DocuSign by 12.6% during the third quarter. US Bancorp DE now owns 3,561 shares of the company’s stock valued at $221,000 after purchasing an additional 398 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of DocuSign by 0.8% during the third quarter. Janney Montgomery Scott LLC now owns 28,946 shares of the company’s stock valued at $1,797,000 after purchasing an additional 227 shares during the period. Baker Avenue Asset Management LP purchased a new stake in shares of DocuSign during the third quarter valued at approximately $201,000. Venturi Wealth Management LLC increased its stake in shares of DocuSign by 19.9% in the third quarter. Venturi Wealth Management LLC now owns 6,722 shares of the company’s stock worth $417,000 after buying an additional 1,114 shares during the last quarter. Finally, Apollon Wealth Management LLC bought a new stake in shares of DocuSign in the third quarter worth $203,000. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Stock Up 0.8 %

DOCU stock opened at $80.13 on Thursday. The company has a market capitalization of $16.19 billion, a P/E ratio of 16.52, a PEG ratio of 6.94 and a beta of 1.02. The company has a 50-day simple moving average of $88.37 and a 200 day simple moving average of $79.07. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DOCU. Wells Fargo & Company lifted their price target on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. JMP Securities reiterated a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Citigroup reiterated a “buy” rating on shares of DocuSign in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $70.00 to $75.00 in a research note on Monday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $92.91.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares in the company, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the sale, the chief executive officer now owns 156,050 shares in the company, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,422 shares of company stock worth $9,665,394. 1.66% of the stock is owned by corporate insiders.

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.