Sovereign Financial Group Inc. Decreases Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Sovereign Financial Group Inc. decreased its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 28.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,219 shares of the company’s stock after selling 1,268 shares during the period. Sovereign Financial Group Inc.’s holdings in DocuSign were worth $289,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans purchased a new position in DocuSign in the second quarter valued at about $115,795,000. Pacer Advisors Inc. raised its position in shares of DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock valued at $188,318,000 after purchasing an additional 1,541,816 shares in the last quarter. KBC Group NV raised its position in shares of DocuSign by 209.8% in the 3rd quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after purchasing an additional 783,419 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of DocuSign by 151.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 865,872 shares of the company’s stock valued at $46,324,000 after buying an additional 521,292 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of DocuSign by 42.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,459,580 shares of the company’s stock worth $90,625,000 after buying an additional 434,312 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Buying and Selling at DocuSign

In other news, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the sale, the director now owns 150,253 shares of the company’s stock, valued at approximately $13,712,088.78. The trade was a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total value of $676,275.00. Following the completion of the transaction, the insider now directly owns 43,781 shares of the company’s stock, valued at $3,947,732.77. This trade represents a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 693,537 shares of company stock worth $66,575,817. 1.66% of the stock is owned by insiders.

DocuSign Price Performance

NASDAQ:DOCU opened at $91.34 on Thursday. The firm has a market capitalization of $18.45 billion, a P/E ratio of 18.83, a P/E/G ratio of 8.70 and a beta of 0.88. The business has a 50 day simple moving average of $87.95 and a 200 day simple moving average of $69.61. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86.

Analyst Ratings Changes

DOCU has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note 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 research report on Friday, December 6th. HSBC reiterated a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently 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.