CFO4Life Group LLC Buys New Position in DocuSign, Inc. (NASDAQ:DOCU)

CFO4Life Group LLC bought a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, HoldingsChannel.com reports. The fund bought 8,648 shares of the company’s stock, valued at approximately $778,000.

Other hedge funds also recently modified their holdings of the company. Toronto Dominion Bank boosted its position in DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after purchasing an additional 6,081 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in DocuSign by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after purchasing an additional 16,014 shares during the last quarter. Quantinno Capital Management LP boosted its position in DocuSign by 39.5% in the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after purchasing an additional 57,104 shares during the last quarter. Rhumbline Advisers boosted its position in DocuSign by 118.8% in the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock worth $54,695,000 after purchasing an additional 330,136 shares during the last quarter. Finally, KBC Group NV boosted its position in DocuSign by 32.7% in the fourth quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock worth $138,067,000 after purchasing an additional 378,233 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Activity at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the business’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 sale, the director now directly owns 7,736 shares in the company, valued at approximately $731,825.60. The trade was a 6.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here. In 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 company insiders.

DocuSign Stock Performance

NASDAQ:DOCU opened at $80.13 on Thursday. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The firm has a market cap of $16.19 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 6.94 and a beta of 1.02. The business’s fifty day moving average is $88.37 and its 200 day moving average is $79.07.

Wall Street Analyst Weigh In

Several research firms have weighed in on DOCU. Jefferies Financial Group boosted their price objective on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $70.00 to $75.00 in a research report on Monday. Piper Sandler boosted their price objective on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price objective (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Finally, Citigroup restated a “buy” rating on shares of DocuSign in a research note on Thursday, March 6th. Two investment 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.