Level Four Advisory Services LLC boosted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU – Free Report) by 37.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,810 shares of the company’s stock after purchasing an additional 24,847 shares during the quarter. Level Four Advisory Services LLC’s holdings in DocuSign were worth $4,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in DocuSign by 20.3% during the first quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock valued at $1,854,127,000 after purchasing an additional 2,917,683 shares in the last quarter. Fisher Asset Management LLC raised its stake in DocuSign by 3.4% in the first quarter. Fisher Asset Management LLC now owns 5,819,807 shares of the company’s stock valued at $339,295,000 after buying an additional 189,229 shares during the last quarter. Capital World Investors raised its stake in DocuSign by 128.3% in the first quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock valued at $608,853,000 after buying an additional 3,193,727 shares during the last quarter. Two Sigma Advisers LP raised its stake in DocuSign by 5.5% in the first quarter. Two Sigma Advisers LP now owns 3,613,500 shares of the company’s stock valued at $210,667,000 after buying an additional 189,300 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in DocuSign by 10.2% in the fourth quarter. Two Sigma Investments LP now owns 3,611,117 shares of the company’s stock valued at $200,128,000 after buying an additional 334,069 shares during the last quarter. Institutional investors own 77.96% of the company’s stock.
DocuSign Stock Down 2.8 %
DocuSign stock opened at $42.19 on Friday. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of -468.73, a price-to-earnings-growth ratio of 8.07 and a beta of 0.90. DocuSign, Inc. has a 52 week low of $39.57 and a 52 week high of $69.45. The business’s 50-day moving average price is $49.60 and its 200 day moving average price is $52.46.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on DOCU shares. HSBC started coverage on DocuSign in a research note on Friday, September 15th. They issued a “reduce” rating and a $42.00 price target for the company. UBS Group increased their price target on DocuSign from $44.00 to $48.00 and gave the company a “sell” rating in a research note on Friday, September 8th. Piper Sandler increased their price target on DocuSign from $60.00 to $61.00 in a research note on Friday, June 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $59.00 price target on shares of DocuSign in a research note on Friday, September 8th. Finally, Citigroup raised their price objective on DocuSign from $81.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, September 13th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $61.43.
Read Our Latest Research Report on DocuSign
Insider Buying and Selling
In other DocuSign news, insider Stephen Shute sold 13,606 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $43.51, for a total value of $591,997.06. Following the sale, the insider now directly owns 2,740 shares of the company’s stock, valued at $119,217.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other DocuSign news, insider Stephen Shute sold 13,606 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $43.51, for a total value of $591,997.06. Following the sale, the insider now directly owns 2,740 shares of the company’s stock, valued at $119,217.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Enrique T. Salem sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $50.02, for a total value of $125,050.00. Following the completion of the sale, the director now directly owns 156,140 shares in the company, valued at $7,810,122.80. The disclosure for this sale can be found here. Insiders have sold a total of 116,421 shares of company stock valued at $5,652,545 over the last ninety days. Company insiders own 17.80% of the company’s stock.
About DocuSign
DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.
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