Prosperity Wealth Management Inc. Buys 295 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Prosperity Wealth Management Inc. boosted its stake in DocuSign, Inc. (NASDAQ:DOCU) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,585 shares of the company’s stock after acquiring an additional 295 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in DocuSign were worth $682,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new stake in DocuSign in the 4th quarter valued at $30,000. First Horizon Advisors Inc. lifted its position in DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after buying an additional 201 shares in the last quarter. Modus Advisors LLC bought a new stake in DocuSign during the 4th quarter worth about $36,000. Itau Unibanco Holding S.A. bought a new stake in DocuSign during the 3rd quarter worth about $28,000. Finally, Avion Wealth lifted its position in DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after buying an additional 368 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DOCU has been the topic of several analyst reports. JMP Securities reissued a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research report on Tuesday, January 7th. HSBC restated a “reduce” rating on shares of DocuSign in a research note 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 note on Friday, December 6th. UBS Group boosted their price objective on shares of DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $92.91.

DocuSign Trading Up 2.1 %

NASDAQ:DOCU opened at $79.50 on Wednesday. The stock has a market capitalization of $16.06 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 6.94 and a beta of 1.02. The firm has a fifty day simple moving average of $88.57 and a two-hundred day simple moving average of $79.06. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

Insider Buying and Selling at DocuSign

In other DocuSign news, insider Robert Chatwani sold 14,800 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total value of $1,446,848.00. Following the transaction, the insider now directly owns 73,414 shares of the company’s stock, valued at approximately $7,176,952.64. This trade represents a 16.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the transaction, the chief executive officer now directly owns 156,050 shares in the company, valued at $14,050,742. This trade represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,422 shares of company stock valued at $9,665,394. Corporate insiders own 1.66% of the company’s stock.

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.