Park Avenue Securities LLC Buys 6,832 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Park Avenue Securities LLC raised its stake in DocuSign, Inc. (NASDAQ:DOCU) by 183.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,558 shares of the company’s stock after acquiring an additional 6,832 shares during the period. Park Avenue Securities LLC’s holdings in DocuSign were worth $950,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Modus Advisors LLC acquired a new position in DocuSign in the fourth quarter worth $36,000. Itau Unibanco Holding S.A. acquired a new position in shares of DocuSign during the third quarter valued at $28,000. Brooklyn Investment Group acquired a new position in shares of DocuSign during the third quarter valued at $33,000. Friedenthal Financial acquired a new position in shares of DocuSign during the fourth quarter valued at $54,000. Finally, Reston Wealth Management LLC acquired a new position in shares of DocuSign during the third quarter valued at $47,000. 77.64% of the stock is currently owned by institutional investors.

DocuSign Price Performance

Shares of DocuSign stock opened at $89.60 on Tuesday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The business has a 50-day moving average of $88.76 and a two-hundred day moving average of $70.38. The company has a market capitalization of $18.10 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 8.17 and a beta of 0.88.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DOCU shares. Piper Sandler upped their price target on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company upped their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, December 6th. JMP Securities reissued a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Finally, Citigroup increased their target price on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Three investment 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 MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus price target of $92.45.

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.77, for a total transaction of $758,160.00. Following the completion of the transaction, the chief financial officer now directly owns 101,439 shares in the company, valued at approximately $9,613,374.03. This trade represents a 7.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,763 shares of the 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 transaction, the chief executive officer now owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 693,537 shares of company stock worth $66,575,817 over the last ninety days. 1.66% of the stock is currently owned by corporate insiders.

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.