3,386 Shares in DocuSign, Inc. (NASDAQ:DOCU) Bought by Garden State Investment Advisory Services LLC

Garden State Investment Advisory Services LLC acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,386 shares of the company’s stock, valued at approximately $210,000.

Several other large investors have also recently made changes to their positions in the business. Thrivent Financial for Lutherans bought a new stake in DocuSign in the second quarter worth about $115,795,000. Pacer Advisors Inc. grew its holdings in DocuSign by 77.9% during the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after purchasing an additional 1,541,816 shares during the period. KBC Group NV increased its stake in shares of DocuSign by 209.8% in the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock worth $71,830,000 after purchasing an additional 783,419 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of DocuSign by 18.3% in the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after purchasing an additional 576,414 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in DocuSign by 151.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock worth $46,324,000 after buying an additional 521,292 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DocuSign

In other news, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the transaction, the insider now owns 70,748 shares in the company, valued at $3,923,684.08. This trade represents a 17.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel D. Springer sold 581,588 shares of DocuSign stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total value of $56,437,299.52. Following the sale, the director now owns 906,430 shares in the company, valued at $87,959,967.20. This represents a 39.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 651,184 shares of company stock worth $60,878,829 over the last quarter. 1.66% of the stock is owned by corporate insiders.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $94.48 on Friday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The stock’s 50-day moving average is $78.04 and its 200 day moving average is $63.34. The company has a market cap of $19.09 billion, a PE ratio of 19.48, a P/E/G ratio of 8.72 and a beta of 0.92.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DOCU shares. Citigroup raised their target price on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Wells Fargo & Company increased their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. JMP Securities lifted their price target on DocuSign from $108.00 to $124.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Finally, Piper Sandler upped their target price on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $92.45.

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.