Adero Partners LLC Invests $272,000 in DocuSign, Inc. (NASDAQ:DOCU)

Adero Partners LLC purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,019 shares of the company’s stock, valued at approximately $272,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Toronto Dominion Bank increased its position in DocuSign by 30.3% in the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after acquiring an additional 6,081 shares during the period. Inspire Investing LLC acquired a new stake in DocuSign in the 3rd quarter valued at approximately $911,000. Charles Schwab Investment Management Inc. increased its position in DocuSign by 1.2% in 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 increased its position in 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 period. Finally, Quantinno Capital Management LP increased its position in DocuSign by 39.5% in the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after acquiring an additional 57,104 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Teresa Briggs sold 534 shares of the 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 trade represents a 6.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the sale, the chief executive officer now owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 685,773 shares of company stock worth $66,032,726. Corporate insiders own 1.66% of the company’s stock.

DocuSign Trading Down 3.1 %

Shares of NASDAQ:DOCU opened at $93.85 on Friday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The business has a fifty day simple moving average of $92.10 and a 200 day simple moving average of $73.83. The firm has a market cap of $18.96 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 8.74 and a beta of 0.89.

Wall Street Analysts Forecast Growth

Several analysts recently commented on DOCU shares. Morgan Stanley raised their target price on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Piper Sandler increased their price target on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. increased their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company increased their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company 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.