Oak Harvest Investment Services Buys 7,770 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Oak Harvest Investment Services boosted its position in DocuSign, Inc. (NASDAQ:DOCU) by 70.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,770 shares of the company’s stock after purchasing an additional 7,770 shares during the period. Oak Harvest Investment Services’ holdings in DocuSign were worth $1,688,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in DocuSign in the 3rd quarter valued at about $28,000. Brooklyn Investment Group bought a new stake in shares of DocuSign in the third quarter valued at approximately $33,000. Modus Advisors LLC purchased a new stake in shares of DocuSign during the 4th quarter valued at approximately $36,000. Reston Wealth Management LLC purchased a new position in DocuSign in the 3rd quarter valued at approximately $47,000. Finally, Avior Wealth Management LLC raised its holdings in DocuSign by 36.5% during the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after acquiring an additional 145 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Price Performance

Shares of DOCU stock opened at $95.85 on Friday. The company has a market cap of $19.36 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 8.63 and a beta of 0.88. The firm has a fifty day moving average price of $90.73 and a 200-day moving average price of $72.41. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

Insider Activity

In related news, Director Daniel D. Springer sold 581,588 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the completion of the sale, the director now owns 906,430 shares in the company, valued at approximately $87,959,967.20. This trade represents a 39.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Chatwani sold 14,800 shares of the company’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 value of $1,446,848.00. Following the completion of the transaction, the insider now owns 73,414 shares of the company’s stock, valued at $7,176,952.64. The trade was a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 685,773 shares of company stock valued at $66,032,726 in the last ninety days. Corporate insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DOCU. Wells Fargo & Company lifted their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Robert W. Baird increased their price target on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Piper Sandler boosted their price objective on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Finally, HSBC reaffirmed a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.