WT Wealth Management Acquires New Shares in Docusign Inc. $DOCU

WT Wealth Management bought a new position in Docusign Inc. (NASDAQ:DOCU) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 20,734 shares of the company’s stock, valued at approximately $1,615,000.

A number of other hedge funds have also added to or reduced their stakes in DOCU. Banque Transatlantique SA purchased a new stake in shares of Docusign in the first quarter worth about $26,000. Summit Securities Group LLC purchased a new position in Docusign during the first quarter valued at approximately $34,000. Rise Advisors LLC increased its holdings in Docusign by 864.6% during the 1st quarter. Rise Advisors LLC now owns 463 shares of the company’s stock worth $38,000 after acquiring an additional 415 shares during the period. WPG Advisers LLC purchased a new stake in Docusign in the 1st quarter worth approximately $39,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Docusign in the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on DOCU. Piper Sandler decreased their price target on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Morgan Stanley boosted their target price on Docusign from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, September 8th. Citigroup upped their target price on Docusign from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Docusign in a research report on Wednesday, October 8th. Finally, UBS Group cut their price objective on Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Four analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat.com, Docusign currently has a consensus rating of “Hold” and a consensus price target of $86.71.

Docusign Stock Up 1.3%

Shares of DOCU stock opened at $71.11 on Monday. The business has a 50-day moving average price of $69.18 and a two-hundred day moving average price of $74.52. Docusign Inc. has a 12-month low of $63.41 and a 12-month high of $99.71. The firm has a market cap of $14.24 billion, a P/E ratio of 49.73, a price-to-earnings-growth ratio of 3.57 and a beta of 0.98.

Insider Activity

In other news, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $69.69, for a total value of $2,787,600.00. Following the completion of the sale, the chief executive officer directly owned 136,246 shares in the company, valued at approximately $9,494,983.74. The trade was a 22.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 9,509 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $83.10, for a total transaction of $790,197.90. Following the completion of the sale, the chief financial officer directly owned 112,160 shares of the company’s stock, valued at $9,320,496. This trade represents a 7.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 86,302 shares of company stock valued at $6,359,253. 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.