Highland Capital Management LLC Acquires Shares of 17,442 Docusign Inc. $DOCU

Highland Capital Management LLC bought a new position in Docusign Inc. (NASDAQ:DOCU) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,442 shares of the company’s stock, valued at approximately $1,257,000.

A number of other institutional investors also recently modified their holdings of the stock. Banque Transatlantique SA acquired a new position in shares of Docusign in the first quarter worth $26,000. Rise Advisors LLC boosted its position in Docusign by 864.6% during the first quarter. Rise Advisors LLC now owns 463 shares of the company’s stock valued at $38,000 after purchasing an additional 415 shares during the last quarter. WPG Advisers LLC purchased a new position in Docusign in the first quarter valued at about $39,000. Twin Peaks Wealth Advisors LLC purchased a new position in Docusign in the second quarter valued at about $43,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in Docusign by 31.3% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 595 shares of the company’s stock worth $46,000 after purchasing an additional 142 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insiders Place Their Bets

In other news, Director Anna Marrs sold 365 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $68.54, for a total value of $25,017.10. Following the completion of the sale, the director directly owned 11,163 shares in the company, valued at approximately $765,112.02. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Chatwani sold 13,818 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $68.33, for a total transaction of $944,183.94. Following the completion of the transaction, the insider owned 70,197 shares in the company, valued at $4,796,561.01. The trade was a 16.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 87,542 shares of company stock valued at $6,097,905 in the last three months. Company insiders own 1.01% of the company’s stock.

Docusign Stock Performance

DOCU opened at $69.97 on Friday. The firm has a market cap of $14.01 billion, a P/E ratio of 48.93, a price-to-earnings-growth ratio of 3.50 and a beta of 0.98. The business has a 50 day moving average price of $69.12 and a 200 day moving average price of $73.46. Docusign Inc. has a twelve month low of $63.41 and a twelve month high of $99.30.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Docusign from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Cantor Fitzgerald restated an “outperform” rating on shares of Docusign in a report on Wednesday, December 17th. Wells Fargo & Company cut their price objective on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, December 5th. Bank of America decreased their target price on shares of Docusign from $102.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Finally, Piper Sandler dropped their price target on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Six equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, Docusign presently has a consensus rating of “Hold” and a consensus target price of $86.80.

Docusign Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.