GAMMA Investing LLC Boosts Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

GAMMA Investing LLC grew its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 311.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 803 shares of the company’s stock after purchasing an additional 608 shares during the period. GAMMA Investing LLC’s holdings in DocuSign were worth $72,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new stake in shares of DocuSign in the third quarter worth about $28,000. Brooklyn Investment Group bought a new position in shares of DocuSign in the third quarter worth $33,000. Reston Wealth Management LLC bought a new position in DocuSign in the 3rd quarter worth about $47,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of DocuSign in the 3rd quarter valued at about $51,000. Finally, Quarry LP purchased a new position in shares of DocuSign during the second quarter worth about $53,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Stock Up 1.0 %

Shares of DocuSign stock opened at $90.42 on Friday. The business has a 50 day moving average of $87.19 and a 200 day moving average of $68.97. 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 $18.27 billion, a PE ratio of 18.64, a P/E/G ratio of 8.70 and a beta of 0.92.

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 9,552 shares of DocuSign 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 completion of the transaction, the chief financial officer now directly owns 78,265 shares of the company’s stock, valued at $5,384,632. This trade represents a 10.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 7,764 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the sale, the chief executive officer now owns 107,825 shares in the company, valued at approximately $7,542,358.75. This trade represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 693,089 shares of company stock worth $66,320,395. 1.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Citigroup boosted their price target on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Jefferies Financial Group raised their price objective on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. increased their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Finally, Piper Sandler raised their price target on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Three equities 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’s stock. Based on data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and a consensus price target of $92.45.

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.