TFB Advisors LLC Invests $312,000 in DocuSign, Inc. (NASDAQ:DOCU)

TFB Advisors LLC bought a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,469 shares of the company’s stock, valued at approximately $312,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new position in shares of DocuSign during the third quarter worth approximately $28,000. Brooklyn Investment Group acquired a new stake in shares of DocuSign in the third quarter worth $33,000. Modus Advisors LLC bought a new position in DocuSign during the fourth quarter worth $36,000. Reston Wealth Management LLC bought a new position in DocuSign during the third quarter worth $47,000. Finally, Avior Wealth Management LLC raised its stake in DocuSign by 36.5% during the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

Shares of DOCU stock opened at $88.29 on Thursday. The stock’s fifty day simple moving average is $92.94 and its 200 day simple moving average is $74.95. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The firm has a market cap of $17.84 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 7.56 and a beta of 0.89.

Wall Street Analyst Weigh In

Several research firms have issued reports on DOCU. HSBC restated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Jefferies Financial Group lifted their target price on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price target (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. Robert W. Baird lifted their price objective on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Piper Sandler boosted their price objective on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $92.45.

Insider Buying and Selling at DocuSign

In other news, CEO Allan C. Thygesen sold 7,763 shares of the firm’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 transaction of $625,232.02. Following the completion of the sale, the chief executive officer now owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. This trade represents a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the transaction, the director now directly owns 7,736 shares in the company, valued at $731,825.60. The trade was a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 685,773 shares of company stock valued at $66,032,726. 1.66% of the stock is currently owned by company insiders.

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.