Optas LLC Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

Optas LLC purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,869 shares of the company’s stock, valued at approximately $258,000.

Several other large investors have also bought and sold shares of DOCU. The Manufacturers Life Insurance Company raised its position in shares of DocuSign by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,260 shares of the company’s stock valued at $2,796,000 after acquiring an additional 1,628 shares during the last quarter. Creative Planning increased its holdings in DocuSign by 9.2% in the second quarter. Creative Planning now owns 13,687 shares of the company’s stock valued at $732,000 after purchasing an additional 1,157 shares during the last quarter. Truist Financial Corp lifted its stake in DocuSign by 18.1% in the second quarter. Truist Financial Corp now owns 9,138 shares of the company’s stock valued at $489,000 after buying an additional 1,399 shares during the period. Sanctuary Advisors LLC bought a new position in DocuSign during the second quarter worth about $942,000. Finally, Park Avenue Securities LLC acquired a new position in shares of DocuSign during the 3rd quarter worth about $231,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DocuSign

In other DocuSign news, Director Peter Solvik sold 10,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $91.26, for a total transaction of $912,600.00. Following the sale, the director now directly owns 150,253 shares of the company’s stock, valued at approximately $13,712,088.78. This represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert Chatwani sold 14,800 shares of DocuSign stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the completion of the transaction, the insider now directly owns 73,414 shares of the company’s stock, valued at approximately $7,176,952.64. This trade represents a 16.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 685,773 shares of company stock worth $66,032,726 in the last three months. Insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DOCU. JPMorgan Chase & Co. lifted 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 Tuesday, December 3rd. Citigroup boosted their price target on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company raised their price objective on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. UBS Group boosted their target price on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $92.45.

DocuSign Trading Down 0.0 %

DocuSign stock opened at $96.47 on Wednesday. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The company has a fifty day simple moving average of $91.54 and a 200 day simple moving average of $73.38. The company has a market cap of $19.49 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 8.74 and a beta of 0.89.

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.