Everence Capital Management Inc. Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Everence Capital Management Inc. acquired a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,010 shares of the company’s stock, valued at approximately $720,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of DOCU. Modus Advisors LLC purchased a new stake in DocuSign during the 4th quarter worth approximately $36,000. Itau Unibanco Holding S.A. purchased a new stake in shares of DocuSign during the third quarter valued at $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 DocuSign in the 3rd quarter worth $47,000. Finally, GAMMA Investing LLC lifted its position 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 during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the firm’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 transaction, the director now owns 7,736 shares in the company, valued at $731,825.60. This trade represents a 6.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total value of $508,725.00. Following the sale, the insider now owns 43,301 shares of the company’s stock, valued at $2,937,106.83. The trade was a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 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.

DocuSign Trading Down 0.2 %

Shares of DOCU stock opened at $90.21 on Friday. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The business’s 50 day moving average is $85.19 and its two-hundred day moving average is $67.53. The company has a market capitalization of $18.22 billion, a P/E ratio of 18.60, a P/E/G ratio of 8.72 and a beta of 0.92.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, December 6th. Robert W. Baird raised their price target 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. Citigroup lifted their price objective on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. JMP Securities increased their price objective on shares of DocuSign from $108.00 to $124.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. Finally, HSBC restated a “reduce” rating on shares of DocuSign 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.