Strategic Financial Concepts LLC Buys Shares of 12,879 DocuSign, Inc. (NASDAQ:DOCU)

Strategic Financial Concepts LLC purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, HoldingsChannel reports. The firm purchased 12,879 shares of the company’s stock, valued at approximately $1,158,000.

A number of other hedge funds have also modified their holdings of the business. Modus Advisors LLC acquired a new stake in shares of DocuSign during the fourth quarter valued at about $36,000. Itau Unibanco Holding S.A. purchased a new position in shares of DocuSign during the 3rd quarter worth approximately $28,000. Avion Wealth increased its holdings in DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after purchasing an additional 368 shares during the last quarter. Brooklyn Investment Group purchased a new stake in DocuSign in the third quarter valued at approximately $33,000. Finally, Avior Wealth Management LLC raised its position in DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after purchasing an additional 145 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Stock Performance

Shares of DOCU stock opened at $87.34 on Wednesday. The company has a market cap of $17.64 billion, a P/E ratio of 18.01, a PEG ratio of 7.56 and a beta of 0.89. The firm has a fifty day moving average price of $92.44 and a 200 day moving average price of $75.87. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

Insider Transactions at DocuSign

In related news, insider Robert Chatwani sold 14,800 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the completion of the sale, the insider now owns 73,414 shares in the company, valued at $7,176,952.64. The trade was a 16.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the transaction, the chief executive officer now owns 100,062 shares in the company, valued at $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 693,773 shares of company stock valued at $66,727,926. 1.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DOCU shares. Citigroup lifted their price objective on 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 price target (up from $57.00) on shares of DocuSign in a research note on Friday, December 6th. JMP Securities reissued a “market outperform” rating and issued a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Finally, UBS Group raised their price target on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $92.45.

About DocuSign

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.