Toronto Dominion Bank Buys 6,081 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Toronto Dominion Bank lifted its position in DocuSign, Inc. (NASDAQ:DOCU) by 30.3% during the 3rd quarter, Holdings Channel reports. The firm owned 26,159 shares of the company’s stock after buying an additional 6,081 shares during the quarter. Toronto Dominion Bank’s holdings in DocuSign were worth $1,624,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in DocuSign during the third quarter worth about $28,000. Brooklyn Investment Group bought a new position in shares of DocuSign in the third quarter valued at approximately $33,000. Reston Wealth Management LLC acquired a new position in shares of DocuSign in the 3rd quarter worth approximately $47,000. nVerses Capital LLC bought a new stake in DocuSign during the 2nd quarter worth approximately $48,000. Finally, Quarry LP acquired a new stake in DocuSign during the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Performance

Shares of DocuSign stock opened at $94.48 on Monday. The firm has a fifty day moving average of $78.04 and a two-hundred day moving average of $63.41. The stock has a market capitalization of $19.09 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 8.72 and a beta of 0.92. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of recent analyst reports. JMP Securities boosted their price objective on DocuSign from $108.00 to $124.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. Morgan Stanley upped their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. UBS Group raised their price objective 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. Citigroup upped their target price on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, HSBC reissued a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, DocuSign has an average rating of “Hold” and a consensus target price of $92.45.

Insider Buying and Selling

In related news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $67.83, for a total transaction of $508,725.00. Following the transaction, the insider now owns 43,301 shares of the company’s stock, valued at $2,937,106.83. This trade represents a 14.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel D. Springer sold 581,588 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 906,430 shares of the company’s stock, valued at $87,959,967.20. The trade was a 39.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 650,650 shares of company stock valued at $60,848,626 over the last three months. Company 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.