Perpetual Ltd Invests $297,000 in DocuSign, Inc. (NASDAQ:DOCU)

Perpetual Ltd acquired a new position in DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,298 shares of the company’s stock, valued at approximately $297,000.

Several other institutional investors have also recently made changes to their positions in DOCU. Toronto Dominion Bank raised its stake in DocuSign by 30.3% during the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after acquiring an additional 6,081 shares during the period. Inspire Investing LLC bought a new stake in DocuSign during the 3rd quarter worth approximately $911,000. Charles Schwab Investment Management Inc. raised its stake 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 worth $82,478,000 after acquiring an additional 16,014 shares during the period. International Assets Investment Management LLC raised its stake in 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 raised its stake in DocuSign by 39.5% during the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after acquiring an additional 57,104 shares during the period. Institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of DocuSign stock in a transaction on Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the transaction, the chief executive officer now directly owns 107,825 shares of the company’s stock, valued at $7,542,358.75. The trade was a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Chatwani sold 14,800 shares of DocuSign stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total value of $1,446,848.00. Following the sale, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 693,537 shares of company stock valued at $66,575,817 over the last three months. 1.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DOCU shares. JPMorgan Chase & Co. raised their target price 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. 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 report on Friday, December 6th. Citigroup increased their price objective on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a report on Friday, December 6th. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a report on Tuesday, January 7th. 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’s stock. According to MarketBeat, DocuSign presently has an average rating of “Hold” and an average target price of $92.45.

DocuSign Stock Down 1.3 %

NASDAQ DOCU opened at $90.54 on Friday. The company has a fifty day moving average of $89.31 and a two-hundred day moving average of $71.03. The firm has a market capitalization of $18.29 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 8.26 and a beta of 0.88. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week 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.