DocuSign, Inc. (NASDAQ:DOCU) Stake Lifted by Moran Wealth Management LLC

Moran Wealth Management LLC increased its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 16.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 14,816 shares of the company’s stock after buying an additional 2,146 shares during the quarter. Moran Wealth Management LLC’s holdings in DocuSign were worth $1,333,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Amundi increased its position in shares of DocuSign by 565.8% during the 4th quarter. Amundi now owns 1,379,575 shares of the company’s stock valued at $123,486,000 after purchasing an additional 1,172,368 shares during the period. KBC Group NV grew its holdings in DocuSign by 209.8% during the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock worth $71,830,000 after acquiring an additional 783,419 shares during the period. Bank of New York Mellon Corp raised its position in DocuSign by 61.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock worth $150,525,000 after acquiring an additional 637,505 shares in the last quarter. Fiera Capital Corp acquired a new stake in DocuSign in the 4th quarter valued at about $47,920,000. Finally, Principal Financial Group Inc. lifted its holdings in DocuSign by 3,026.7% in 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. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the stock in a transaction dated 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 in the company, valued at approximately $731,825.60. This trade represents a 6.46 % decrease in their ownership of the stock. 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 shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the transaction, the chief executive officer now owns 156,050 shares in the company, valued at $14,050,742. This represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,422 shares of company stock worth $9,665,394. 1.66% of the stock is owned by insiders.

DocuSign Stock Up 2.1 %

DOCU stock opened at $79.50 on Wednesday. The company has a 50 day moving average of $88.57 and a two-hundred day moving average of $79.06. The company has a market cap of $16.06 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86.

Analysts Set New Price Targets

Several research firms recently commented on DOCU. JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and increased their target price for the company from $70.00 to $75.00 in a research note on Monday. UBS Group increased their price objective on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Tuesday, February 4th. Piper Sandler boosted their target price on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Jefferies Financial Group increased their price target on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $92.91.

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.