Private Advisor Group LLC Buys 995 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Private Advisor Group LLC raised its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,811 shares of the company’s stock after purchasing an additional 995 shares during the period. Private Advisor Group LLC’s holdings in DocuSign were worth $2,681,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in DOCU. Itau Unibanco Holding S.A. bought a new position in DocuSign during the third quarter valued at approximately $28,000. Kestra Investment Management LLC bought a new position in shares of DocuSign during the 4th quarter valued at approximately $30,000. Brooklyn Investment Group purchased a new position in shares of DocuSign in the third quarter valued at $33,000. Modus Advisors LLC bought a new stake in DocuSign in the fourth quarter worth $36,000. Finally, Avion Wealth raised its stake in DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after purchasing an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on DOCU. HSBC reiterated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. UBS Group lifted their target price on DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Morgan Stanley increased their price target on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Citigroup lifted their price objective on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $92.45.

Insiders Place Their Bets

In related news, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the sale, the chief executive officer now directly owns 100,062 shares in the company, valued at $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the transaction, the director now owns 7,736 shares in the company, valued at approximately $731,825.60. The trade was a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 693,773 shares of company stock worth $66,727,926. 1.66% of the stock is currently owned by company insiders.

DocuSign Price Performance

Shares of DOCU opened at $83.69 on Tuesday. The firm has a market capitalization of $16.91 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 6.94 and a beta of 0.89. The company has a 50-day moving average of $91.45 and a 200 day moving average of $77.09. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86.

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.