Silver Lake Advisory LLC Grows Stake in DocuSign, Inc. (NASDAQ:DOCU)

Silver Lake Advisory LLC boosted its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,547 shares of the company’s stock after acquiring an additional 1,907 shares during the quarter. DocuSign accounts for 1.6% of Silver Lake Advisory LLC’s portfolio, making the stock its 25th biggest holding. Silver Lake Advisory LLC’s holdings in DocuSign were worth $3,557,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp increased its position in shares of DocuSign by 2.3% during the 3rd 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 during the last quarter. Geode Capital Management LLC raised 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 acquiring an additional 53,554 shares during the period. Clearbridge Investments LLC boosted its stake in shares of DocuSign by 4.1% during the 2nd quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company’s stock worth $156,265,000 after acquiring an additional 115,616 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of DocuSign by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock valued at $141,398,000 after acquiring an additional 112,919 shares during the period. Finally, FMR LLC increased its stake in shares of DocuSign by 16.8% in the 3rd quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $136,156,000 after purchasing an additional 315,073 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Activity

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction that occurred on Monday, December 16th. The stock was 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 in the company, valued at approximately $9,613,374.03. The trade was a 7.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 7,764 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the sale, the chief executive officer now owns 107,825 shares in the company, valued at $7,542,358.75. The trade was a 6.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 693,537 shares of company stock worth $66,575,817. 1.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DOCU shares. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. HSBC reiterated a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Robert W. Baird raised their target price on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Wells Fargo & Company upped their target price on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $92.45.

DocuSign Stock Down 1.3 %

DocuSign stock opened at $90.54 on Friday. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The firm’s fifty day moving average is $89.31 and its 200 day moving average is $71.03. The company has a market cap of $18.29 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 8.30 and a beta of 0.88.

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.