Merit Financial Group LLC Grows Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Merit Financial Group LLC grew its holdings in shares of DocuSign, Inc. (NASDAQ:DOCUFree Report) by 22.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,516 shares of the company’s stock after purchasing an additional 3,352 shares during the period. Merit Financial Group LLC’s holdings in DocuSign were worth $1,665,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in shares of DocuSign during the third quarter valued at approximately $28,000. Brooklyn Investment Group bought a new stake in DocuSign in the 3rd quarter worth approximately $33,000. Modus Advisors LLC bought a new stake in DocuSign in the 4th quarter worth approximately $36,000. Reston Wealth Management LLC bought a new stake in DocuSign in the 3rd quarter worth approximately $47,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in DocuSign in the 3rd quarter worth approximately $51,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the sale, the chief executive officer now directly owns 100,062 shares in the company, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.17, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 693,537 shares of company stock worth $66,575,817 in the last 90 days. 1.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of research analyst reports. Robert W. Baird lifted their target price on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, December 6th. Morgan Stanley lifted their target price on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company boosted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, DocuSign has an average rating of “Hold” and a consensus price target of $92.45.

Read Our Latest Stock Analysis on DocuSign

DocuSign Stock Down 1.7 %

Shares of DOCU stock opened at $89.60 on Tuesday. The stock has a market cap of $18.10 billion, a P/E ratio of 18.47, a PEG ratio of 8.17 and a beta of 0.88. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The company’s fifty day simple moving average is $88.76 and its two-hundred day simple moving average is $70.38.

About DocuSign

(Free Report)

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.

See Also

Want to see what other hedge funds are holding DOCU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DocuSign, Inc. (NASDAQ:DOCUFree Report).

Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

Receive News & Ratings for DocuSign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DocuSign and related companies with MarketBeat.com's FREE daily email newsletter.