Sanders Morris Harris LLC Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Sanders Morris Harris LLC acquired a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,850 shares of the company’s stock, valued at approximately $256,000.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. UBS Group upped their price target on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Piper Sandler upped their price target on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Morgan Stanley upped their price target on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Finally, Robert W. Baird upped their price target on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $92.45.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $731,825.60. This represents a 6.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total transaction of $676,275.00. Following the transaction, the insider now directly owns 43,781 shares of the company’s stock, valued at $3,947,732.77. The trade was a 14.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 693,537 shares of company stock valued at $66,575,817 in the last 90 days. Company insiders own 1.66% of the company’s stock.

DocuSign Stock Up 0.0 %

Shares of DocuSign stock traded up $0.03 during mid-day trading on Thursday, hitting $91.37. The stock had a trading volume of 99,603 shares, compared to its average volume of 2,023,531. The firm has a 50-day moving average of $87.95 and a two-hundred day moving average of $69.61. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The firm has a market cap of $18.46 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 8.17 and a beta of 0.88.

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.