Meredith Wealth Planning Makes New $231,000 Investment in DocuSign, Inc. (NASDAQ:DOCU)

Meredith Wealth Planning bought a new position in DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,565 shares of the company’s stock, valued at approximately $231,000.

A number of other hedge funds have also bought and sold shares of DOCU. Itau Unibanco Holding S.A. purchased a new position in DocuSign in the 3rd quarter worth about $28,000. Brooklyn Investment Group purchased a new stake in shares of DocuSign during the 3rd quarter valued at about $33,000. Modus Advisors LLC purchased a new stake in shares of DocuSign during the 4th quarter valued at about $36,000. Avion Wealth increased its position in shares of DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after purchasing an additional 368 shares during the last quarter. Finally, Reston Wealth Management LLC purchased a new stake in shares of DocuSign during the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DOCU. UBS Group upped their price target on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Jefferies Financial Group upped their price target on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Robert W. Baird increased their target price on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Tuesday, February 4th. Finally, Citigroup increased their target price on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $92.45.

Insider Activity

In other news, Director Peter Solvik sold 10,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the completion of the transaction, the director now directly owns 150,253 shares in the company, valued at approximately $13,712,088.78. This represents a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Blake Jeffrey Grayson sold 15,588 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total value of $1,524,194.64. Following the completion of the sale, the chief financial officer now owns 85,851 shares of the company’s stock, valued at approximately $8,394,510.78. This represents a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 685,773 shares of company stock worth $66,032,726. 1.66% of the stock is currently owned by insiders.

DocuSign Price Performance

DOCU stock opened at $87.34 on Monday. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The company has a market capitalization of $17.64 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 7.56 and a beta of 0.89. The business has a 50 day simple moving average of $92.73 and a two-hundred day simple moving average of $75.49.

DocuSign Company 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.