Merit Financial Group LLC Makes New $605,000 Investment in DocuSign, Inc. (NASDAQ:DOCU)

Posted by Defense World Staff on Mar 25th, 2023

Merit Financial Group LLC acquired a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU – Get Rating) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,919 shares of the company’s stock, valued at approximately $605,000.

Several other institutional investors and hedge funds have also modified their holdings of DOCU. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in DocuSign by 440.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock valued at $28,000 after acquiring an additional 220 shares in the last quarter. Ronald Blue Trust Inc. purchased a new stake in DocuSign during the second quarter worth $42,000. Whittier Trust Co. acquired a new stake in DocuSign during the third quarter valued at $30,000. Brown Brothers Harriman & Co. increased its holdings in DocuSign by 381.9% in the first quarter. Brown Brothers Harriman & Co. now owns 559 shares of the company’s stock valued at $60,000 after buying an additional 443 shares in the last quarter. Finally, Performa Ltd US LLC raised its position in shares of DocuSign by 86.7% in the third quarter. Performa Ltd US LLC now owns 700 shares of the company’s stock worth $37,000 after acquiring an additional 325 shares during the period. Institutional investors and hedge funds own 76.18% of the company’s stock.

DocuSign Price Performance

NASDAQ:DOCU opened at $56.62 on Friday. DocuSign, Inc. has a one year low of $39.57 and a one year high of $113.67. The stock has a market cap of $11.38 billion, a PE ratio of -115.55, a P/E/G ratio of 19.57 and a beta of 1.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50 day moving average price of $60.43 and a 200 day moving average price of $54.39.

Analyst Ratings Changes

A number of research firms have recently commented on DOCU. JMP Securities restated a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a research report on Friday, March 10th. JPMorgan Chase & Co. cut DocuSign from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $58.00 to $48.00 in a research report on Friday, March 10th. Wedbush upped their target price on DocuSign from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, March 10th. Royal Bank of Canada boosted their price target on shares of DocuSign from $53.00 to $59.00 and gave the stock a “sector perform” rating in a report on Friday, March 10th. Finally, Jefferies Financial Group increased their price objective on shares of DocuSign from $70.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, March 7th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $62.93.

Insider Buying and Selling at DocuSign

In other news, Director Daniel D. Springer sold 147,009 shares of DocuSign stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $58.48, for a total transaction of $8,597,086.32. Following the transaction, the director now owns 1,524,335 shares in the company, valued at approximately $89,143,110.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Daniel D. Springer sold 147,009 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $58.48, for a total transaction of $8,597,086.32. Following the completion of the sale, the director now owns 1,524,335 shares in the company, valued at approximately $89,143,110.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel D. Springer sold 147,008 shares of the company’s stock in a transaction that occurred on Thursday, January 19th. The shares were sold at an average price of $55.08, for a total value of $8,097,200.64. Following the completion of the transaction, the director now owns 1,225,714 shares in the company, valued at $67,512,327.12. The disclosure for this sale can be found here. Insiders sold a total of 296,005 shares of company stock worth $16,810,645 in the last three months. 2.55% of the stock is owned by corporate insiders.

About DocuSign

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DocuSign, Inc provides cloud-based electronic signature solutions. Its cloud based electronic signature platform helps companies and individuals securely collect information, automate data workflows and sign anything. The firm automates manual, paper-based processes allowing users to manage all aspects of documented business transactions including identity management, authentication, digital signature, forms and data collection, collaboration, workflow automation and storage.