Zurcher Kantonalbank Zurich Cantonalbank Buys 59,162 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in DocuSign, Inc. (NASDAQ:DOCU) by 45.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 190,358 shares of the company’s stock after buying an additional 59,162 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in DocuSign were worth $17,121,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Synergy Financial Group LTD boosted its stake in shares of DocuSign by 3.4% in the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after buying an additional 140 shares during the period. M&T Bank Corp lifted its stake in DocuSign by 1.3% during the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after purchasing an additional 143 shares during the last quarter. Avior Wealth Management LLC lifted its stake in DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after purchasing an additional 145 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its stake in DocuSign by 1.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 13,540 shares of the company’s stock worth $1,218,000 after purchasing an additional 149 shares during the last quarter. Finally, Optimist Retirement Group LLC lifted its stake in DocuSign by 3.8% during the third quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock worth $274,000 after purchasing an additional 161 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

DocuSign Stock Up 0.8 %

NASDAQ DOCU opened at $80.13 on Thursday. The company has a market capitalization of $16.19 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The stock has a fifty day simple moving average of $88.37 and a 200 day simple moving average of $79.07.

Insider Activity at DocuSign

In other DocuSign news, insider Robert Chatwani sold 14,800 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the completion of the sale, the insider now directly owns 73,414 shares in the company, valued at approximately $7,176,952.64. This trade represents a 16.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the sale, the chief executive officer now owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,422 shares of company stock worth $9,665,394 over the last three months. Company insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Piper Sandler upped their target price on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. UBS Group increased their price target on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note 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 research note on Friday, December 6th. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and increased their price target for the company from $70.00 to $75.00 in a research note on Monday. Finally, Robert W. Baird increased their price target on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $92.91.

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.