WT Wealth Management Acquires Shares of 20,734 Docusign Inc. $DOCU
by Teresa Graham · The Cerbat GemWT Wealth Management bought a new position in Docusign Inc. (NASDAQ:DOCU – Free Report) during the 2nd quarter, Holdings Channel.com reports. The firm bought 20,734 shares of the company’s stock, valued at approximately $1,615,000.
Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Docusign during the 2nd quarter valued at $140,987,000. Wellington Management Group LLP increased its position in shares of Docusign by 372.5% in the first quarter. Wellington Management Group LLP now owns 1,826,949 shares of the company’s stock valued at $148,714,000 after acquiring an additional 1,440,269 shares during the period. Duquesne Family Office LLC bought a new position in shares of Docusign during the first quarter valued at about $87,477,000. Third Point LLC purchased a new stake in shares of Docusign during the second quarter worth about $48,681,000. Finally, Jupiter Asset Management Ltd. boosted its holdings in shares of Docusign by 88.3% during the second quarter. Jupiter Asset Management Ltd. now owns 1,316,440 shares of the company’s stock worth $102,538,000 after purchasing an additional 617,200 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Docusign
In related news, insider Robert Chatwani sold 13,817 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $83.10, for a total value of $1,148,192.70. Following the completion of the transaction, the insider directly owned 71,162 shares in the company, valued at $5,913,562.20. This trade represents a 16.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $71.33, for a total transaction of $427,980.00. Following the sale, the executive directly owned 58,968 shares in the company, valued at $4,206,187.44. The trade was a 9.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 86,302 shares of company stock valued at $6,359,253. Company insiders own 1.66% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have commented on DOCU shares. Robert W. Baird lowered their price target on Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Evercore ISI reduced their target price on Docusign from $92.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday, December 5th. Morgan Stanley upped their target price on Docusign from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, September 8th. Bank of America cut their price target on shares of Docusign from $102.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Finally, Wells Fargo & Company decreased their price objective on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, December 5th. Four research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.71.
Docusign Stock Up 1.3%
DOCU opened at $71.11 on Monday. Docusign Inc. has a 52 week low of $63.41 and a 52 week high of $99.71. The stock has a market cap of $14.24 billion, a PE ratio of 49.73, a PEG ratio of 3.57 and a beta of 0.98. The business has a 50 day moving average of $69.18 and a 200-day moving average of $74.52.
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.
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