SPC Financial Inc. Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

SPC Financial Inc. purchased a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,575 shares of the company’s stock, valued at approximately $232,000.

Several other institutional investors also recently modified their holdings of DOCU. Synergy Financial Group LTD raised its stake in shares of DocuSign by 3.4% in the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock worth $381,000 after buying an additional 140 shares during the period. M&T Bank Corp raised its stake in shares of DocuSign by 1.3% in the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after buying an additional 143 shares during the period. Avior Wealth Management LLC raised its stake in shares of DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after buying an additional 145 shares during the period. Linden Thomas Advisory Services LLC raised its stake in shares of DocuSign by 1.1% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 13,540 shares of the company’s stock worth $1,218,000 after buying an additional 149 shares during the period. Finally, Optimist Retirement Group LLC raised its stake in shares of DocuSign by 3.8% in the third quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock worth $274,000 after buying an additional 161 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DOCU shares. Robert W. Baird raised their price objective on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Jefferies Financial Group raised their price objective on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Finally, Piper Sandler lifted their target price on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $92.45.

DocuSign Price Performance

NASDAQ:DOCU opened at $82.36 on Thursday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The stock’s 50 day simple moving average is $89.64 and its two-hundred day simple moving average is $78.28. The company has a market cap of $16.64 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 6.94 and a beta of 1.02.

Insiders Place Their Bets

In other DocuSign news, Director Daniel D. Springer sold 581,588 shares of DocuSign stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total value of $56,437,299.52. Following the sale, the director now owns 906,430 shares of the company’s stock, valued at $87,959,967.20. The trade was a 39.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 686,010 shares of company stock valued at $66,102,694 in the last quarter. 1.66% of the stock is currently owned by insiders.

DocuSign Company 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.