Telos Capital Management Inc. Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Telos Capital Management Inc. acquired a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,455 shares of the company’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank grew its stake in shares of DocuSign by 30.3% in the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock worth $1,624,000 after acquiring an additional 6,081 shares in the last quarter. Inspire Investing LLC purchased a new stake in DocuSign in the 3rd quarter valued at about $911,000. Charles Schwab Investment Management Inc. lifted its position in shares of DocuSign by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after buying an additional 16,014 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of DocuSign by 5,660.8% in the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after buying an additional 431,295 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of DocuSign by 39.5% in the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after acquiring an additional 57,104 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price target (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. Piper Sandler boosted their price target on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Jefferies Financial Group raised their price objective on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. UBS Group boosted their target price on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, JMP Securities restated a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research note on Tuesday, January 7th. Three equities research 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $92.45.

Insider Transactions at DocuSign

In other news, Director Peter Solvik sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the transaction, the director now directly owns 150,253 shares in the company, valued at approximately $13,712,088.78. This trade represents a 6.24 % 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, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the sale, the chief executive officer now directly owns 156,050 shares in the company, valued at $14,050,742. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 685,773 shares of company stock valued at $66,032,726 over the last three months. Company insiders own 1.66% of the company’s stock.

DocuSign Trading Down 3.6 %

DocuSign stock opened at $90.48 on Friday. The firm has a 50 day simple moving average of $92.36 and a 200 day simple moving average of $73.96. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The firm has a market capitalization of $18.28 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 8.74 and a beta of 0.89.

DocuSign 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.