Lifestyle Asset Management Inc. Buys New Stake in DocuSign, Inc. (NASDAQ:DOCU)

Lifestyle Asset Management Inc. bought a new stake in DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,172 shares of the company’s stock, valued at approximately $1,095,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DOCU. State Street Corp raised its holdings in DocuSign by 2.3% in the 3rd 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 during the last quarter. Geode Capital Management LLC raised its holdings in DocuSign by 1.6% in the 3rd 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 during the last quarter. Clearbridge Investments LLC raised its holdings in DocuSign by 4.1% in the 2nd quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company’s stock valued at $156,265,000 after acquiring an additional 115,616 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in DocuSign by 5.2% in the 3rd 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 during the last quarter. Finally, FMR LLC raised its holdings in DocuSign by 16.8% in the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Trading Down 1.3 %

Shares of NASDAQ DOCU opened at $90.54 on Friday. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The company has a market cap of $18.29 billion, a P/E ratio of 18.67, a P/E/G ratio of 8.26 and a beta of 0.88. The stock has a fifty day moving average price of $89.31 and a 200 day moving average price of $71.03.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JMP Securities reiterated a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a report on Tuesday, January 7th. Jefferies Financial Group boosted their price target on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Robert W. Baird upped their price objective on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company upped 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. Finally, Citigroup upped their price objective on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $92.45.

Insider Activity at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the transaction, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at $8,058,993.48. This represents a 7.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel D. Springer sold 581,588 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the completion of the transaction, the director now directly owns 906,430 shares of the company’s stock, valued at approximately $87,959,967.20. The trade was a 39.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 693,537 shares of company stock worth $66,575,817. Corporate insiders own 1.66% of the company’s stock.

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.