Verus Capital Partners LLC Buys Shares of 2,237 DocuSign, Inc. (NASDAQ:DOCU)

Verus Capital Partners LLC bought a new stake in DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,237 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in DocuSign by 2.3% in the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after buying an additional 120,743 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after purchasing an additional 53,554 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of DocuSign by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock worth $141,398,000 after purchasing an additional 112,919 shares during the period. FMR LLC lifted its holdings in shares of DocuSign by 16.8% during the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $136,156,000 after purchasing an additional 315,073 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of DocuSign by 61.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock worth $150,525,000 after purchasing an additional 637,505 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Up 2.3 %

Shares of NASDAQ DOCU opened at $83.17 on Friday. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The firm has a fifty day simple moving average of $90.43 and a 200 day simple moving average of $77.74. The company has a market capitalization of $16.80 billion, a PE ratio of 17.15, a P/E/G ratio of 6.94 and a beta of 0.89.

Insider Activity

In other news, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the transaction, the chief executive officer now owns 100,062 shares in the company, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.60, for a total transaction of $50,516.40. Following the transaction, the director now owns 7,736 shares in the company, valued at $731,825.60. This represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 693,773 shares of company stock worth $66,727,926. Company insiders own 1.66% of the company’s stock.

Analyst Ratings Changes

DOCU has been the topic of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price target (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Piper Sandler lifted 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. Morgan Stanley lifted their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, UBS Group lifted their price target on shares of DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, DocuSign 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.