SPC Financial Inc. Makes New $232,000 Investment in DocuSign, Inc. (NASDAQ:DOCU)

SPC Financial Inc. acquired a new position in DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, HoldingsChannel reports. The fund acquired 2,575 shares of the company’s stock, valued at approximately $232,000.

Several other institutional investors have also added to or reduced their stakes in the company. M&T Bank Corp lifted its stake in DocuSign by 1.3% in the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after purchasing an additional 143 shares during the last quarter. Assetmark Inc. lifted its stake in DocuSign by 718,151.7% in the fourth quarter. Assetmark Inc. now owns 416,586 shares of the company’s stock worth $37,468,000 after purchasing an additional 416,528 shares during the last quarter. Carrera Capital Advisors raised its stake in shares of DocuSign by 13.4% during the fourth quarter. Carrera Capital Advisors now owns 12,165 shares of the company’s stock valued at $1,094,000 after acquiring an additional 1,434 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of DocuSign by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,341,953 shares of the company’s stock valued at $120,695,000 after acquiring an additional 13,598 shares in the last quarter. Finally, State of Michigan Retirement System purchased a new stake in DocuSign in the fourth quarter worth about $4,758,000. Institutional investors own 77.64% of the company’s stock.

Insider Activity

In related news, Director Daniel D. Springer sold 581,588 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the sale, the director now directly owns 906,430 shares of the company’s stock, valued at approximately $87,959,967.20. This represents a 39.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $94.77, for a total transaction of $758,160.00. Following the sale, the chief financial officer now directly owns 101,439 shares in the company, valued at $9,613,374.03. This trade represents a 7.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 686,010 shares of company stock valued at $66,102,694 in the last ninety days. Insiders own 1.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Robert W. Baird boosted their price target on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. JMP Securities restated a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a report on Tuesday, January 7th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Tuesday, February 4th. JPMorgan Chase & Co. boosted their price target on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Finally, UBS Group boosted their price objective on shares of DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating 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 assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $92.45.

DocuSign Price Performance

DOCU stock opened at $82.36 on Thursday. The firm’s fifty day simple moving average is $89.64 and its 200-day simple moving average is $78.28. The company has a market capitalization of $16.64 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

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.