IVC Wealth Advisors LLC Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

IVC Wealth Advisors LLC acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,497 shares of the company’s stock, valued at approximately $225,000.

Several other institutional investors have also recently added to or reduced their stakes in DOCU. Avior Wealth Management LLC grew its holdings in DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after buying an additional 145 shares during the period. J.W. Cole Advisors Inc. boosted its position in shares of DocuSign by 2.0% in the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after acquiring an additional 155 shares during the last quarter. Resonant Capital Advisors LLC increased its position in DocuSign by 0.9% during the third quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after purchasing an additional 157 shares during the last quarter. Optimist Retirement Group LLC raised its stake in DocuSign by 3.8% during the third quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock worth $274,000 after purchasing an additional 161 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in shares of DocuSign by 6.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock valued at $187,000 after purchasing an additional 172 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DocuSign

In other news, CEO Allan C. Thygesen sold 7,764 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the sale, the chief executive officer now owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. The trade was a 6.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the transaction, the director now directly owns 7,736 shares in the company, valued at $731,825.60. The trade was a 6.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 693,537 shares of company stock valued at $66,575,817 in the last three months. Corporate insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DOCU. Piper Sandler increased their target price on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company raised their price objective on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Morgan Stanley lifted their price objective on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. UBS Group increased their target price on shares of DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $92.45.

DocuSign Stock Performance

Shares of DOCU opened at $90.54 on Friday. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The stock has a 50-day moving average price of $89.31 and a 200 day moving average price of $71.03. The company has a market capitalization of $18.29 billion, a P/E ratio of 18.67, a P/E/G ratio of 8.26 and a beta of 0.88.

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.