Merit Financial Group LLC Raises Position in DocuSign, Inc. (NASDAQ:DOCU)

Merit Financial Group LLC increased its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 22.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,516 shares of the company’s stock after buying an additional 3,352 shares during the period. Merit Financial Group LLC’s holdings in DocuSign were worth $1,665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Modus Advisors LLC purchased a new stake in shares of DocuSign in the fourth quarter worth $36,000. Itau Unibanco Holding S.A. bought a new position in DocuSign in the third quarter valued at $28,000. Brooklyn Investment Group bought a new position in DocuSign in the third quarter valued at $33,000. Friedenthal Financial bought a new position in DocuSign in the fourth quarter valued at $54,000. Finally, Reston Wealth Management LLC bought a new position in DocuSign in the third quarter valued at $47,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In other DocuSign news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the sale, the director now directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Allan C. Thygesen sold 7,764 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the sale, the chief executive officer now owns 107,825 shares of the company’s stock, valued at $7,542,358.75. This trade represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 693,537 shares of company stock worth $66,575,817 over the last three months. Company insiders own 1.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on DOCU shares. UBS Group increased their target price on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Jefferies Financial Group increased their target price on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. increased their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Morgan Stanley increased their target price on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company raised their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, DocuSign has an average rating of “Hold” and an average target price of $92.45.

DocuSign Price Performance

NASDAQ DOCU opened at $89.60 on Tuesday. The stock has a market capitalization of $18.10 billion, a PE ratio of 18.47, a PEG ratio of 8.17 and a beta of 0.88. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The business’s 50-day moving average is $88.76 and its 200 day moving average is $70.38.

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.