DGS Capital Management LLC Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

DGS Capital Management LLC bought a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,192 shares of the company’s stock, valued at approximately $377,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Toronto Dominion Bank lifted its position in shares of DocuSign by 30.3% in the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after purchasing an additional 6,081 shares during the period. Inspire Investing LLC purchased a new stake in DocuSign in the third quarter worth about $911,000. Charles Schwab Investment Management Inc. boosted its position in DocuSign by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after acquiring an additional 16,014 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after acquiring an additional 431,295 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in shares of DocuSign by 39.5% in the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after purchasing an additional 57,104 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Activity at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 15,588 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the sale, the chief financial officer now owns 85,851 shares in the company, valued at approximately $8,394,510.78. This trade represents a 15.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the transaction, the chief executive officer now owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 693,537 shares of company stock worth $66,575,817. Corporate insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on DOCU shares. JMP Securities reiterated a “market outperform” rating and issued a $124.00 price objective on shares of DocuSign in a report on Tuesday, January 7th. Robert W. Baird increased their price target on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company boosted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Finally, Morgan Stanley boosted their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $92.45.

DocuSign Trading Up 1.2 %

DOCU opened at $91.60 on Friday. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The firm’s 50 day simple moving average is $89.76 and its two-hundred day simple moving average is $71.43. The company has a market capitalization of $18.51 billion, a PE ratio of 18.89, a PEG ratio of 8.30 and a beta of 0.88.

About DocuSign

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.