Csenge Advisory Group Increases Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Csenge Advisory Group lifted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 38.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,905 shares of the company’s stock after buying an additional 1,360 shares during the period. Csenge Advisory Group’s holdings in DocuSign were worth $441,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. State Street Corp grew its holdings in DocuSign by 2.3% during the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after acquiring an additional 120,743 shares during the period. Geode Capital Management LLC grew its stake in shares of DocuSign by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after purchasing an additional 53,554 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of DocuSign by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock valued at $141,398,000 after purchasing an additional 112,919 shares in the last quarter. FMR LLC lifted its stake in shares of DocuSign by 16.8% in the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock valued at $136,156,000 after purchasing an additional 315,073 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of DocuSign by 14.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company’s stock valued at $103,030,000 after purchasing an additional 208,813 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Price Performance

NASDAQ:DOCU opened at $87.34 on Wednesday. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The firm has a 50 day simple moving average of $92.44 and a 200-day simple moving average of $75.87. The firm has a market cap of $17.64 billion, a PE ratio of 18.01, a P/E/G ratio of 7.56 and a beta of 0.89.

Analysts Set New Price Targets

A number of brokerages have issued reports on DOCU. Morgan Stanley increased their target price on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price objective (up from $57.00) on shares of DocuSign in a research note on Friday, December 6th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Piper Sandler upped their target price on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted their price target on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus target price of $92.45.

Insider Buying and Selling at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $94.77, for a total transaction of $758,160.00. Following the completion of the transaction, the chief financial officer now owns 101,439 shares of the company’s stock, valued at approximately $9,613,374.03. This represents a 7.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the transaction, the chief executive officer now directly owns 100,062 shares in the company, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 693,773 shares of company stock worth $66,727,926. 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.