Wealth Enhancement Advisory Services LLC Acquires 84,804 Shares of Docusign Inc. $DOCU

Wealth Enhancement Advisory Services LLC boosted its holdings in Docusign Inc. (NASDAQ:DOCU) by 90.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 178,207 shares of the company’s stock after acquiring an additional 84,804 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Docusign were worth $12,464,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Docusign during the second quarter valued at approximately $140,987,000. Third Point LLC purchased a new stake in Docusign in the 2nd quarter valued at $48,681,000. Jupiter Asset Management Ltd. lifted its stake in Docusign by 88.3% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,316,440 shares of the company’s stock valued at $102,538,000 after acquiring an additional 617,200 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Docusign by 132.8% during the 2nd quarter. Alliancebernstein L.P. now owns 868,531 shares of the company’s stock worth $67,650,000 after acquiring an additional 495,380 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Docusign during the 2nd quarter worth $32,294,000. 77.64% of the stock is owned by institutional investors.

Docusign Stock Performance

Shares of NASDAQ DOCU opened at $57.50 on Friday. Docusign Inc. has a fifty-two week low of $55.46 and a fifty-two week high of $99.30. The stock has a market cap of $11.52 billion, a PE ratio of 40.21, a price-to-earnings-growth ratio of 2.76 and a beta of 0.99. The stock has a fifty day moving average of $66.59 and a 200-day moving average of $71.85.

Insider Buying and Selling at Docusign

In other news, CEO Allan C. Thygesen sold 26,250 shares of the business’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $69.60, for a total transaction of $1,827,000.00. Following the completion of the transaction, the chief executive officer owned 142,261 shares of the company’s stock, valued at approximately $9,901,365.60. The trade was a 15.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James P. Shaughnessy sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $67.03, for a total transaction of $804,360.00. Following the completion of the transaction, the insider directly owned 54,550 shares of the company’s stock, valued at approximately $3,656,486.50. This represents a 18.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 78,292 shares of company stock valued at $5,374,260 over the last 90 days. Insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Docusign in a research report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Docusign in a research report on Wednesday, December 17th. Royal Bank Of Canada reduced their target price on Docusign from $95.00 to $70.00 and set a “sector perform” rating for the company in a report on Monday, January 5th. Wedbush decreased their price target on Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Finally, Evercore ISI dropped their price target on Docusign from $92.00 to $80.00 and set an “in-line” rating on the stock in a report on Friday, December 5th. Six investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Docusign presently has an average rating of “Hold” and a consensus price target of $85.13.

About Docusign

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.