DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Essex LLC

Essex LLC reduced its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 9.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,068 shares of the company’s stock after selling 620 shares during the period. Essex LLC’s holdings in DocuSign were worth $546,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DOCU. Avior Wealth Management LLC boosted its holdings in DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after purchasing an additional 145 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in shares of DocuSign by 1.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 13,540 shares of the company’s stock valued at $1,218,000 after buying an additional 149 shares during the period. J.W. Cole Advisors Inc. boosted its stake 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 buying an additional 155 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings 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 acquiring an additional 157 shares during the period. Finally, Optimist Retirement Group LLC raised its position in DocuSign by 3.8% during the third quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock valued at $274,000 after acquiring an additional 161 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Performance

Shares of DOCU opened at $90.48 on Friday. The stock has a 50 day moving average price of $92.58 and a 200 day moving average price of $74.20. The stock has a market capitalization of $18.28 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 7.56 and a beta of 0.89. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

Analysts Set New Price Targets

DOCU has been the subject of several recent research reports. Robert W. Baird lifted their target price on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Tuesday, February 4th. HSBC restated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Piper Sandler increased their price target on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” 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 data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and a consensus price target of $92.45.

Insider Transactions at DocuSign

In other news, Director Peter Solvik sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the sale, the director now directly owns 150,253 shares in the company, valued at $13,712,088.78. This represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $94.60, for a total value of $50,516.40. Following the transaction, the director now owns 7,736 shares in the company, valued at approximately $731,825.60. The trade was a 6.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 685,773 shares of company stock valued at $66,032,726 over the last 90 days. 1.66% of the stock is currently owned by corporate insiders.

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.