Burns Matteson Capital Management LLC Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

Burns Matteson Capital Management LLC acquired a new position in DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,744 shares of the company’s stock, valued at approximately $517,000.

Several other large investors have also recently added to or reduced their stakes in DOCU. Toronto Dominion Bank lifted its stake in 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 purchasing an additional 6,081 shares during the last quarter. Inspire Investing LLC purchased a new position in DocuSign during the 3rd quarter valued at about $911,000. Charles Schwab Investment Management Inc. increased its stake in DocuSign by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after buying an additional 16,014 shares during the period. International Assets Investment Management LLC increased its stake in shares of DocuSign by 5,660.8% in the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after acquiring an additional 431,295 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of DocuSign by 39.5% during the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after buying an additional 57,104 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the sale, the director now owns 150,253 shares of the company’s stock, valued at approximately $13,712,088.78. This trade represents a 6.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 685,773 shares of company stock valued at $66,032,726. 1.66% of the stock is owned by company insiders.

DocuSign Stock Down 3.6 %

DOCU opened at $90.48 on Monday. The stock’s 50 day moving average price is $92.58 and its two-hundred day moving average price is $74.33. The firm has a market capitalization of $18.28 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 7.56 and a beta of 0.89. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. JMP Securities restated a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research note on Tuesday, January 7th. Wells Fargo & Company lifted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Finally, Robert W. Baird raised their target price on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, DocuSign presently has an average rating of “Hold” and a consensus price target of $92.45.

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.