Modus Advisors LLC Purchases Shares of 400 DocuSign, Inc. (NASDAQ:DOCU)

Modus Advisors LLC acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, HoldingsChannel reports. The fund acquired 400 shares of the company’s stock, valued at approximately $36,000.

A number of other hedge funds have also made changes to their positions in DOCU. Itau Unibanco Holding S.A. acquired a new position in DocuSign in the third quarter valued at approximately $28,000. Brooklyn Investment Group acquired a new position in shares of DocuSign in the 3rd quarter valued at $33,000. Reston Wealth Management LLC purchased a new position in shares of DocuSign in the 3rd quarter valued at $47,000. GAMMA Investing LLC raised its stake in DocuSign by 311.8% during the 4th quarter. GAMMA Investing LLC now owns 803 shares of the company’s stock worth $72,000 after acquiring an additional 608 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in DocuSign in the third quarter valued at $51,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Activity

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $67.83, for a total transaction of $508,725.00. Following the transaction, the insider now directly owns 43,301 shares in the company, valued at approximately $2,937,106.83. This represents a 14.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $94.60, for a total transaction of $50,516.40. Following the sale, the director now owns 7,736 shares of the company’s stock, valued at approximately $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. Insiders sold 700,589 shares of company stock valued at $66,829,120 in the last three months. 1.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DOCU shares. Piper Sandler lifted their target price on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Morgan Stanley boosted their price objective on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. raised their target price on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Finally, Robert W. Baird raised their price objective on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $92.45.

DocuSign Trading Down 0.2 %

Shares of DOCU opened at $90.21 on Friday. The stock’s 50 day moving average is $85.19 and its two-hundred day moving average is $67.53. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The firm has a market capitalization of $18.22 billion, a PE ratio of 18.60, a P/E/G ratio of 8.72 and a beta of 0.92.

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.