Kestra Investment Management LLC Makes New $30,000 Investment in DocuSign, Inc. (NASDAQ:DOCU)

Kestra Investment Management LLC acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 329 shares of the company’s stock, valued at approximately $30,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOCU. Itau Unibanco Holding S.A. bought a new stake in shares of DocuSign in the third quarter valued at about $28,000. Brooklyn Investment Group acquired a new position in DocuSign in the third quarter valued at about $33,000. Modus Advisors LLC acquired a new position in DocuSign in the fourth quarter valued at about $36,000. Avion Wealth raised its stake in DocuSign by 309.2% in the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after purchasing an additional 368 shares in the last quarter. Finally, Reston Wealth Management LLC acquired a new position in DocuSign in the third quarter valued at about $47,000. 77.64% of the stock is owned by institutional investors.

Insider Activity at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, the chief financial officer now owns 77,851 shares in the company, valued at $6,765,251.90. The trade was a 9.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Allan C. Thygesen sold 7,763 shares of DocuSign 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 completion of the sale, the chief executive officer now owns 100,062 shares of the company’s stock, valued at $8,058,993.48. This represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 693,773 shares of company stock worth $66,727,926 over the last ninety days. Insiders own 1.66% of the company’s stock.

DocuSign Price Performance

Shares of DOCU stock opened at $83.96 on Friday. The business’s 50 day simple moving average is $91.73 and its 200 day simple moving average is $76.50. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The stock has a market capitalization of $16.96 billion, a PE ratio of 17.31, a PEG ratio of 6.94 and a beta of 0.89.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DOCU. Robert W. Baird boosted 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. JPMorgan Chase & Co. boosted their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. UBS Group boosted their target price on DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average 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.