Assetmark Inc. Purchases 416,528 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Assetmark Inc. raised its position in DocuSign, Inc. (NASDAQ:DOCU) by 718,151.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 416,586 shares of the company’s stock after buying an additional 416,528 shares during the quarter. Assetmark Inc. owned about 0.21% of DocuSign worth $37,468,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Carrera Capital Advisors boosted its stake in shares of DocuSign by 13.4% in the 4th quarter. Carrera Capital Advisors now owns 12,165 shares of the company’s stock valued at $1,094,000 after purchasing an additional 1,434 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of DocuSign by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,341,953 shares of the company’s stock valued at $120,695,000 after purchasing an additional 13,598 shares in the last quarter. State of Michigan Retirement System acquired a new stake in shares of DocuSign in the 4th quarter valued at approximately $4,758,000. SBI Securities Co. Ltd. acquired a new stake in shares of DocuSign in the 4th quarter valued at approximately $882,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of DocuSign by 41.4% in the 4th quarter. Jones Financial Companies Lllp now owns 20,486 shares of the company’s stock valued at $1,842,000 after purchasing an additional 6,001 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Citigroup raised their price target on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 target price (up from $57.00) on shares of DocuSign in a research report on Friday, December 6th. HSBC reiterated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, DocuSign currently has an average rating of “Hold” and an average price target of $92.45.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $82.36 on Thursday. The company has a market capitalization of $16.64 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The company’s 50 day moving average price is $89.64 and its 200-day moving average price is $78.28.

Insider Transactions at DocuSign

In other news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the sale, the director now owns 7,736 shares in the company, valued at $731,825.60. The trade was a 6.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel D. Springer sold 581,588 shares of DocuSign stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the completion of the sale, the director now owns 906,430 shares of the company’s stock, valued at $87,959,967.20. This represents a 39.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 686,010 shares of company stock worth $66,102,694. Company insiders own 1.66% of the company’s stock.

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.