Kingsview Wealth Management LLC Invests $226,000 in DocuSign, Inc. (NASDAQ:DOCU)

Kingsview Wealth Management LLC purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,514 shares of the company’s stock, valued at approximately $226,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of DOCU. Fairvoy Private Wealth LLC purchased a new position in DocuSign during the 4th quarter worth $3,345,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in DocuSign by 3.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,706 shares of the company’s stock worth $3,841,000 after purchasing an additional 1,270 shares during the period. Strategic Financial Concepts LLC purchased a new position in DocuSign during the 4th quarter worth $1,158,000. Telos Capital Management Inc. purchased a new position in DocuSign during the 4th quarter worth $221,000. Finally, Silver Oak Securities Incorporated purchased a new position in DocuSign during the 4th quarter worth $196,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the sale, the chief executive officer now owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel D. Springer sold 581,588 shares of DocuSign stock in a transaction dated 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 directly owns 906,430 shares of the company’s stock, valued at approximately $87,959,967.20. This represents a 39.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 685,773 shares of company stock valued at $66,032,726 in the last quarter. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Price Performance

DocuSign stock opened at $87.34 on Friday. The stock has a market capitalization of $17.64 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 7.56 and a beta of 0.89. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The business has a fifty day moving average price of $93.13 and a 200-day moving average price of $75.14.

Wall Street Analyst Weigh In

Several research firms have commented on DOCU. Morgan Stanley raised their price objective on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Piper Sandler raised their price objective on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Tuesday, February 4th. Robert W. Baird lifted their price target on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Hsbc Global Res upgraded DocuSign to a “moderate sell” 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 issued a buy rating to the stock. According to MarketBeat, DocuSign presently 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.