9,000 Shares in DocuSign, Inc. (NASDAQ:DOCU) Acquired by Prakash Investment Advisors LLC

Prakash Investment Advisors LLC purchased a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,000 shares of the company’s stock, valued at approximately $809,000. DocuSign makes up approximately 0.8% of Prakash Investment Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new stake in shares of DocuSign in the third quarter valued at approximately $28,000. Kestra Investment Management LLC purchased a new position in shares of DocuSign in the fourth quarter valued at $30,000. Brooklyn Investment Group purchased a new position in shares of DocuSign in the third quarter valued at $33,000. Modus Advisors LLC purchased a new position in shares of DocuSign in the fourth quarter valued at $36,000. Finally, Avion Wealth boosted its stake in shares of DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after acquiring an additional 368 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on DOCU shares. UBS Group increased their price objective on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Citigroup increased their price objective on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Wells Fargo & Company raised their price target on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. HSBC reissued a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price target (up from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $92.45.

DocuSign Price Performance

NASDAQ DOCU opened at $86.20 on Friday. The firm has a market capitalization of $17.41 billion, a P/E ratio of 17.77, a P/E/G ratio of 7.03 and a beta of 0.89. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The business’s 50-day simple moving average is $92.10 and its 200-day simple moving average is $76.20.

Insider Activity

In other news, insider Robert Chatwani sold 14,800 shares of DocuSign stock in a transaction dated Wednesday, December 18th. The stock was 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 $7,176,952.64. The trade was a 16.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 sale, the director now owns 7,736 shares in the company, valued at approximately $731,825.60. The trade was a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 693,773 shares of company stock valued at $66,727,926 in the last three months. Corporate insiders own 1.66% of the company’s stock.

DocuSign Company 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.