MFG Wealth Management Inc. Makes New $2.80 Million Investment in DocuSign, Inc. (NASDAQ:DOCU)

MFG Wealth Management Inc. purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 31,077 shares of the company’s stock, valued at approximately $2,795,000. DocuSign accounts for 2.6% of MFG Wealth Management Inc.’s investment portfolio, making the stock its 14th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Itau Unibanco Holding S.A. acquired a new position in shares of DocuSign during the third quarter valued at about $28,000. Brooklyn Investment Group bought a new position in shares of DocuSign during the 3rd quarter worth approximately $33,000. Modus Advisors LLC purchased a new position in DocuSign in the fourth quarter worth $36,000. Avion Wealth boosted its holdings in shares of DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after buying an additional 368 shares during the last quarter. Finally, Reston Wealth Management LLC purchased a new position in DocuSign in the third quarter valued at about $47,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on DOCU. JPMorgan Chase & Co. raised their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Wells Fargo & Company raised their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Morgan Stanley lifted their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Finally, Piper Sandler increased their target price on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, DocuSign has an average rating of “Hold” and an average price target of $92.45.

Insider Transactions at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the sale, the chief executive officer now directly owns 100,062 shares in the company, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 685,773 shares of company stock valued at $66,032,726 in the last ninety days. Corporate insiders own 1.66% of the company’s stock.

DocuSign Trading Up 0.4 %

Shares of DocuSign stock opened at $88.29 on Thursday. The firm has a market cap of $17.84 billion, a PE ratio of 18.20, a PEG ratio of 7.56 and a beta of 0.89. The stock has a 50 day moving average of $92.94 and a 200 day moving average of $74.95. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month 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.