Avion Wealth Raises Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Avion Wealth boosted its position in DocuSign, Inc. (NASDAQ:DOCU) by 309.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 487 shares of the company’s stock after buying an additional 368 shares during the quarter. Avion Wealth’s holdings in DocuSign were worth $43,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. State Street Corp increased its position in DocuSign by 2.3% in the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after buying an additional 120,743 shares during the last quarter. Geode Capital Management LLC increased its position in DocuSign by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after buying an additional 53,554 shares during the last quarter. Thrivent Financial for Lutherans increased its position in DocuSign by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock worth $141,398,000 after buying an additional 112,919 shares during the last quarter. FMR LLC increased its position in DocuSign by 16.8% in the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $136,156,000 after buying an additional 315,073 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in DocuSign by 14.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company’s stock worth $103,030,000 after buying an additional 208,813 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the sale, the chief executive officer now owns 100,062 shares of the company’s stock, valued at $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel D. Springer sold 581,588 shares of DocuSign stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total value of $56,437,299.52. Following the sale, the director now directly owns 906,430 shares of the company’s stock, valued at approximately $87,959,967.20. This trade represents a 39.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 685,773 shares of company stock valued at $66,032,726. Company insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

NASDAQ:DOCU opened at $87.92 on Wednesday. The firm has a market capitalization of $17.76 billion, a price-to-earnings ratio of 18.13, a P/E/G ratio of 7.56 and a beta of 0.89. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The stock has a fifty day moving average of $92.79 and a 200 day moving average of $74.72.

Analysts Set New Price Targets

A number of analysts have issued reports on DOCU shares. Piper Sandler raised their target price on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Robert W. Baird lifted their price target on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Citigroup lifted their price target on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price target (up from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Finally, Wells Fargo & Company lifted their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $92.45.

About DocuSign

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.