Hohimer Wealth Management LLC Reduces Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Hohimer Wealth Management LLC trimmed its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 11.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,981 shares of the company’s stock after selling 2,593 shares during the period. Hohimer Wealth Management LLC’s holdings in DocuSign were worth $1,303,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Diversified Trust Co boosted its position in shares of DocuSign by 17.7% in the 2nd quarter. Diversified Trust Co now owns 13,133 shares of the company’s stock worth $703,000 after buying an additional 1,979 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of DocuSign by 55.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,213 shares of the company’s stock valued at $439,000 after purchasing an additional 2,925 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of DocuSign by 25.7% in the second quarter. V Square Quantitative Management LLC now owns 2,847 shares of the company’s stock valued at $152,000 after purchasing an additional 582 shares during the last quarter. PGGM Investments increased its stake in shares of DocuSign by 36.7% during the 2nd quarter. PGGM Investments now owns 49,812 shares of the company’s stock worth $2,665,000 after purchasing an additional 13,379 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft raised its position in shares of DocuSign by 13.0% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 17,517 shares of the company’s stock worth $937,000 after purchasing an additional 2,017 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Bank of America raised their price target on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. JMP Securities lifted their price objective on DocuSign from $108.00 to $124.00 and gave the stock a “market outperform” rating in a research report on Friday, December 6th. Jefferies Financial Group boosted their target price on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price target on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Finally, Piper Sandler lifted their price objective on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $92.45.

DocuSign Trading Down 6.3 %

DOCU stock opened at $95.85 on Wednesday. The company has a market cap of $19.45 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 11.08 and a beta of 0.92. The stock has a 50-day moving average price of $75.46 and a two-hundred day moving average price of $62.36. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86.

Insider Activity

In related news, Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the sale, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. This represents a 6.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Chatwani sold 14,799 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the transaction, the insider now directly owns 70,748 shares in the company, valued at $3,923,684.08. This trade represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,596 shares of company stock valued at $4,441,529 in the last three months. Corporate insiders own 1.66% of the company’s stock.

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.