Cassaday & Co Wealth Management LLC Purchases Shares of 5,183 DocuSign, Inc. (NASDAQ:DOCU)

Cassaday & Co Wealth Management LLC acquired a new position in DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 5,183 shares of the company’s stock, valued at approximately $466,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of 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 purchasing an additional 120,743 shares during the period. Geode Capital Management LLC increased its stake in shares of DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after buying an additional 53,554 shares during the period. Thrivent Financial for Lutherans boosted its holdings in DocuSign by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock valued at $141,398,000 after acquiring an additional 112,919 shares in the last quarter. FMR LLC lifted its position in shares of DocuSign by 16.8% in the 3rd quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $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 increased its position in shares of DocuSign by 14.4% during 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 buying an additional 208,813 shares during the period. Institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $83.96 on Friday. The firm’s 50 day moving average price is $91.94 and its 200-day moving average price is $76.27. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The company has a market cap of $16.96 billion, a PE ratio of 17.31, a P/E/G ratio of 6.98 and a beta of 0.89.

Insider Buying and Selling

In related 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 completion of the sale, the insider now directly owns 73,414 shares in the company, valued at approximately $7,176,952.64. This trade represents a 16.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the transaction, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. This trade represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 693,773 shares of company stock worth $66,727,926 in the last three months. Insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DOCU shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective (up from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Robert W. Baird lifted their price target on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Jefferies Financial Group increased their price objective on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Tuesday, February 4th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.45.

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.