Prakash Investment Advisors LLC Buys New Position in DocuSign, Inc. (NASDAQ:DOCU)

Prakash Investment Advisors LLC acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, Holdings Channel reports. The firm acquired 9,000 shares of the company’s stock, valued at approximately $809,000. DocuSign accounts for about 0.8% of Prakash Investment Advisors LLC’s investment portfolio, making the stock its 22nd biggest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new stake in DocuSign during the 4th quarter worth approximately $30,000. Modus Advisors LLC purchased a new stake in DocuSign during the 4th quarter worth approximately $36,000. Itau Unibanco Holding S.A. purchased a new stake in DocuSign during the 3rd quarter worth approximately $28,000. Avion Wealth increased its holdings in DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after purchasing an additional 368 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in DocuSign during the 3rd quarter worth approximately $33,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

DocuSign Price Performance

NASDAQ:DOCU opened at $86.20 on Friday. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The firm has a market capitalization of $17.41 billion, a P/E ratio of 17.77, a P/E/G ratio of 7.03 and a beta of 0.89. The business has a 50 day simple moving average of $92.10 and a 200 day simple moving average of $76.20.

Insider Activity at DocuSign

In related news, insider Robert Chatwani sold 14,800 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the completion of the transaction, the insider now owns 73,414 shares in the company, valued at $7,176,952.64. The trade was a 16.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the transaction, the chief financial officer now owns 77,851 shares of the company’s stock, valued at $6,765,251.90. This represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 693,773 shares of company stock worth $66,727,926 in the last 90 days. 1.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on DOCU. HSBC restated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price objective (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. Citigroup boosted their price target on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. boosted their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Finally, Jefferies Financial Group boosted their price target on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and a consensus price target of $92.45.

DocuSign Profile

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.