Prosperity Wealth Management Inc. Raises Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Prosperity Wealth Management Inc. boosted its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,585 shares of the company’s stock after acquiring an additional 295 shares during the period. Prosperity Wealth Management Inc.’s holdings in DocuSign were worth $682,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp grew its stake in DocuSign by 2.3% during the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after acquiring an additional 120,743 shares in the last quarter. Geode Capital Management LLC grew its stake in DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after acquiring an additional 53,554 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in DocuSign by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock valued at $141,398,000 after acquiring an additional 112,919 shares in the last quarter. FMR LLC grew its stake in DocuSign by 16.8% during the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock valued at $136,156,000 after acquiring an additional 315,073 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in DocuSign by 61.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock valued at $150,525,000 after acquiring an additional 637,505 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Transactions at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the sale, the chief executive officer now owns 156,050 shares of the company’s stock, valued at $14,050,742. This represents a 20.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $731,825.60. This represents a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,422 shares of company stock worth $9,665,394. 1.66% of the stock is currently owned by insiders.

DocuSign Stock Performance

Shares of DOCU opened at $79.50 on Wednesday. The firm 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 fifty-two week low of $48.70 and a fifty-two week high of $107.86. The firm has a 50 day moving average price of $88.57 and a 200-day moving average price of $79.06.

Analysts Set New Price Targets

DOCU has been the subject of a number of research reports. HSBC reissued a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Tuesday, February 4th. Wells Fargo & Company boosted 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. Jefferies Financial Group boosted their price target on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and an average price target of $92.91.

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.