Friedenthal Financial Makes New $54,000 Investment in DocuSign, Inc. (NASDAQ:DOCU)

Friedenthal Financial acquired a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 605 shares of the company’s stock, valued at approximately $54,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DOCU. Itau Unibanco Holding S.A. purchased a new stake in DocuSign during the 3rd quarter valued at about $28,000. Brooklyn Investment Group bought a new position in shares of DocuSign in the third quarter worth approximately $33,000. Modus Advisors LLC purchased a new position in shares of DocuSign in the fourth quarter worth $36,000. Reston Wealth Management LLC bought a new stake in DocuSign during the 3rd quarter valued at $47,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in DocuSign during the 3rd quarter valued at $51,000. 77.64% of the stock is owned by institutional investors.

DocuSign Price Performance

NASDAQ:DOCU opened at $90.02 on Tuesday. The firm’s 50-day moving average price is $87.59 and its 200-day moving average price is $69.36. The company has a market capitalization of $18.19 billion, a PE ratio of 18.56, a P/E/G ratio of 8.70 and a beta of 0.88. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86.

Analyst Ratings Changes

Several equities analysts have recently commented on DOCU shares. JPMorgan Chase & Co. upped their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, December 6th. Wells Fargo & Company increased their price objective on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. Finally, Jefferies Financial Group lifted their price target on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, DocuSign currently has a consensus rating of “Hold” and a consensus price target of $92.45.

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction on Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the transaction, the chief executive officer now owns 107,825 shares in the company, valued at approximately $7,542,358.75. The trade was a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel D. Springer sold 581,588 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the sale, the director now directly owns 906,430 shares in the company, valued at $87,959,967.20. This trade represents a 39.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 693,537 shares of company stock valued at $66,575,817 over the last quarter. Corporate insiders own 1.66% of the company’s stock.

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.