5,715 Shares in DocuSign, Inc. (NASDAQ:DOCU) Bought by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC purchased a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,715 shares of the company’s stock, valued at approximately $350,000.

A number of other institutional investors and hedge funds have also modified their holdings of DOCU. State Street Corp grew its stake in DocuSign by 2.3% in the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after purchasing an additional 120,743 shares in the last quarter. American Century Companies Inc. raised its holdings in DocuSign by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock valued at $219,318,000 after acquiring an additional 75,026 shares in the last quarter. Renaissance Technologies LLC raised its holdings in DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after acquiring an additional 576,414 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after purchasing an additional 1,541,816 shares during the period. Finally, Clearbridge Investments LLC grew its stake in shares of DocuSign by 4.1% in the 2nd quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company’s stock valued at $156,265,000 after purchasing an additional 115,616 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 7,648 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total value of $477,770.56. Following the transaction, the chief executive officer now owns 115,589 shares in the company, valued at approximately $7,220,844.83. The trade was a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the transaction, the director now owns 7,202 shares in the company, valued at $407,345.12. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 651,184 shares of company stock valued at $60,878,829 over the last three months. Insiders own 1.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Bank of America increased their price target on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 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. Piper Sandler raised their price objective on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, JMP Securities raised their price objective on DocuSign from $108.00 to $124.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and an average target price of $92.45.

DocuSign Stock Performance

NASDAQ DOCU opened at $94.48 on Friday. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The company has a market capitalization of $19.09 billion, a P/E ratio of 19.50, a P/E/G ratio of 8.72 and a beta of 0.92. The company has a fifty day moving average of $77.43 and a 200-day moving average of $63.08.

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.