Synergy Financial Group LTD Boosts Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Synergy Financial Group LTD boosted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,241 shares of the company’s stock after buying an additional 140 shares during the period. Synergy Financial Group LTD’s holdings in DocuSign were worth $381,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in DocuSign in the 4th quarter worth about $30,000. First Horizon Advisors Inc. lifted its stake in shares of DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after buying an additional 201 shares in the last quarter. Modus Advisors LLC bought a new position in shares of DocuSign in the fourth quarter worth approximately $36,000. Itau Unibanco Holding S.A. purchased a new stake in shares of DocuSign during the third quarter valued at approximately $28,000. Finally, Avion Wealth increased its position in shares of DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after acquiring an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Transactions at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.77, for a total value of $758,160.00. Following the completion of the transaction, the chief financial officer now owns 101,439 shares of the company’s stock, valued at approximately $9,613,374.03. This trade represents a 7.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,763 shares of the business’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 value of $625,232.02. Following the sale, the chief executive officer now directly owns 100,062 shares in the company, valued at $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 693,773 shares of company stock valued at $66,727,926. 1.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JMP Securities reissued a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Tuesday, February 4th. Citigroup upped their target price on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Morgan Stanley lifted their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company increased their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $92.45.

DocuSign Stock Down 0.3 %

Shares of DOCU stock opened at $83.69 on Tuesday. The company’s fifty day simple moving average is $91.45 and its two-hundred day simple moving average is $77.09. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The stock has a market cap of $16.91 billion, a P/E ratio of 17.26, a PEG ratio of 6.94 and a beta of 0.89.

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.