Everence Capital Management Inc. Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Everence Capital Management Inc. acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,010 shares of the company’s stock, valued at approximately $720,000.

Other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in DocuSign during the 3rd quarter valued at $28,000. Brooklyn Investment Group bought a new position in DocuSign during the third quarter valued at $33,000. Modus Advisors LLC purchased a new stake in shares of DocuSign in the fourth quarter valued at $36,000. Reston Wealth Management LLC bought a new stake in shares of DocuSign in the 3rd quarter worth about $47,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of DocuSign during the 3rd quarter worth about $51,000. 77.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. HSBC reissued a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Friday, December 6th. Citigroup boosted their price objective on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a report on Friday, December 6th. JMP Securities increased their target price on DocuSign from $108.00 to $124.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company boosted their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and an average target price of $92.45.

DocuSign Stock Down 0.2 %

Shares of DOCU stock opened at $90.21 on Friday. The company’s 50 day moving average is $85.19 and its 200 day moving average is $67.53. The firm has a market cap of $18.22 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 8.72 and a beta of 0.92. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

Insider Transactions at DocuSign

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total value of $676,275.00. Following the transaction, the insider now owns 43,781 shares in the company, valued at $3,947,732.77. The trade was a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $68.80, for a total transaction of $657,177.60. Following the sale, the chief financial officer now directly owns 78,265 shares of the company’s stock, valued at approximately $5,384,632. The trade was a 10.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 700,589 shares of company stock valued at $66,829,120. Corporate insiders own 1.66% of the company’s stock.

About DocuSign

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.