Stonegate Investment Group LLC Invests $216,000 in DocuSign, Inc. (NASDAQ:DOCU)

Stonegate Investment Group LLC bought a new stake in DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,404 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DOCU. Dimensional Fund Advisors LP raised its position in DocuSign by 14.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 610,728 shares of the company’s stock valued at $32,671,000 after buying an additional 75,133 shares during the last quarter. Sei Investments Co. increased its position in shares of DocuSign by 16.4% during the 2nd quarter. Sei Investments Co. now owns 22,341 shares of the company’s stock worth $1,195,000 after purchasing an additional 3,141 shares during the last quarter. MBB Public Markets I LLC acquired a new position in shares of DocuSign during the 2nd quarter worth approximately $781,000. The Manufacturers Life Insurance Company increased its position in shares of DocuSign by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,260 shares of the company’s stock worth $2,796,000 after purchasing an additional 1,628 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of DocuSign by 25.4% during the 2nd quarter. Mackenzie Financial Corp now owns 68,833 shares of the company’s stock worth $3,683,000 after purchasing an additional 13,944 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the completion of the sale, the director now directly owns 7,736 shares in the company, valued at approximately $731,825.60. This represents a 6.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,764 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $69.95, for a total value of $543,091.80. Following the transaction, the chief executive officer now directly owns 107,825 shares of the company’s stock, valued at $7,542,358.75. This trade represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 693,537 shares of company stock worth $66,575,817 in the last ninety days. 1.66% of the stock is owned by company insiders.

DocuSign Price Performance

DOCU opened at $95.46 on Thursday. The business has a fifty day simple moving average of $90.40 and a 200 day simple moving average of $72.25. The company has a market capitalization of $19.28 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 8.30 and a beta of 0.88. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, December 6th. Morgan Stanley boosted their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Piper Sandler lifted their target price on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, DocuSign has a consensus rating of “Hold” and an average price target of $92.45.

DocuSign Company 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.