Strategic Financial Concepts LLC Buys New Shares in DocuSign, Inc. (NASDAQ:DOCU)

Strategic Financial Concepts LLC purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 12,879 shares of the company’s stock, valued at approximately $1,158,000.

Several other hedge funds have also recently made changes to their positions in DOCU. Avior Wealth Management LLC grew its stake in DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after purchasing an additional 145 shares during the period. Linden Thomas Advisory Services LLC grew its position in shares of DocuSign by 1.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 13,540 shares of the company’s stock worth $1,218,000 after buying an additional 149 shares during the period. J.W. Cole Advisors Inc. increased its stake in shares of DocuSign by 2.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock valued at $493,000 after acquiring an additional 155 shares in the last quarter. Resonant Capital Advisors LLC increased its stake in shares of DocuSign by 0.9% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock valued at $1,088,000 after acquiring an additional 157 shares in the last quarter. Finally, Optimist Retirement Group LLC lifted its position in shares of DocuSign by 3.8% during the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock valued at $274,000 after acquiring an additional 161 shares during the period. 77.64% of the stock is owned by institutional investors.

Insider Buying and Selling at DocuSign

In related news, Director Daniel D. Springer sold 581,588 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the completion of the sale, the director now directly owns 906,430 shares of the company’s stock, valued at approximately $87,959,967.20. This trade represents a 39.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction on Monday, December 2nd. The stock was 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 $8,058,993.48. This trade represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 685,773 shares of company stock worth $66,032,726. Insiders own 1.66% of the company’s stock.

DocuSign Price Performance

DOCU opened at $87.92 on Wednesday. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The firm has a market capitalization of $17.76 billion, a P/E ratio of 18.13, a PEG ratio of 7.56 and a beta of 0.89. The company’s 50-day moving average is $92.79 and its 200 day moving average is $74.72.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DOCU shares. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Tuesday, February 4th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Wells Fargo & Company upped their target price on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Finally, Piper Sandler lifted their price target on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $92.45.

DocuSign 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.