Proficio Capital Partners LLC Buys Shares of 52,525 DocuSign, Inc. (NASDAQ:DOCU)

Proficio Capital Partners LLC purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 52,525 shares of the company’s stock, valued at approximately $4,724,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp grew 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 acquiring an additional 120,743 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of DocuSign by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after purchasing an additional 53,554 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of DocuSign by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock valued at $141,398,000 after purchasing an additional 112,919 shares during the last quarter. FMR LLC increased its position in DocuSign by 16.8% during the 3rd 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in DocuSign by 61.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock valued at $150,525,000 after purchasing an additional 637,505 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DOCU shares. Jefferies Financial Group boosted their target price on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. HSBC restated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Wells Fargo & Company lifted their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Morgan Stanley boosted their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, Citigroup raised their price objective on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a report 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 issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $92.45.

Insider Buying and Selling

In other DocuSign news, insider Robert Chatwani sold 14,800 shares of the 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 transaction, the insider now directly owns 73,414 shares in the company, valued at approximately $7,176,952.64. This represents a 16.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 686,010 shares of company stock valued at $66,102,694 over the last quarter. Insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

DocuSign stock opened at $81.70 on Tuesday. The firm has a 50 day moving average price of $90.14 and a two-hundred day moving average price of $78.07. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The firm has a market cap of $16.51 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 6.94 and a beta of 0.89.

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.