Nwam LLC Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

Nwam LLC bought a new position in DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,467 shares of the company’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. KBC Group NV increased its stake in DocuSign by 209.8% in the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock worth $71,830,000 after purchasing an additional 783,419 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of DocuSign by 61.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock worth $150,525,000 after acquiring an additional 637,505 shares in the last quarter. Fiera Capital Corp acquired a new stake in shares of DocuSign during the fourth quarter valued at approximately $47,920,000. Principal Financial Group Inc. lifted its position in shares of DocuSign by 3,026.7% in the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock valued at $49,179,000 after acquiring an additional 529,308 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in DocuSign by 42.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock worth $90,625,000 after purchasing an additional 434,312 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Stock Up 2.3 %

Shares of DOCU opened at $83.17 on Friday. The firm has a market cap of $16.80 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 6.94 and a beta of 0.89. The company’s fifty day moving average is $90.43 and its 200-day moving average is $77.74. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup boosted their target price 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. UBS Group upped their price target on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price objective (up from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Finally, HSBC restated a “reduce” rating on shares of DocuSign in a 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $92.45.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Teresa Briggs sold 534 shares of the company’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 sale, the director now directly owns 7,736 shares of the company’s stock, valued at $731,825.60. The trade was a 6.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 693,773 shares of company stock worth $66,727,926. Corporate insiders own 1.66% of the company’s stock.

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.