Newbridge Financial Services Group Inc. Decreases Position in DocuSign, Inc. (NASDAQ:DOCU)

Newbridge Financial Services Group Inc. decreased its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 85.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 910 shares of the company’s stock after selling 5,264 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in DocuSign were worth $54,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Capital Analysts LLC lifted its stake in DocuSign by 781.7% in the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock valued at $31,000 after buying an additional 469 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in DocuSign in the fourth quarter valued at approximately $32,000. ICA Group Wealth Management LLC purchased a new stake in DocuSign in the fourth quarter valued at approximately $39,000. Whittier Trust Co. lifted its stake in DocuSign by 28.8% in the fourth quarter. Whittier Trust Co. now owns 935 shares of the company’s stock valued at $56,000 after buying an additional 209 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. lifted its stake in DocuSign by 60.5% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 966 shares of the company’s stock valued at $57,000 after buying an additional 364 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

Shares of DOCU stock opened at $50.97 on Wednesday. The business’s fifty day moving average price is $56.57 and its 200 day moving average price is $56.67. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76. The firm has a market capitalization of $10.43 billion, a PE ratio of 98.02, a P/E/G ratio of 4.27 and a beta of 0.89.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research note on Friday, June 7th. Royal Bank of Canada cut their price target on DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a research note on Friday, June 7th. Citigroup cut their price target on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. JMP Securities restated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research note on Friday, June 7th. Finally, Piper Sandler cut their price target on DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, DocuSign currently has an average rating of “Hold” and an average price target of $59.36.

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 8,086 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $56.16, for a total value of $454,109.76. Following the sale, the chief executive officer now owns 99,546 shares of the company’s stock, valued at $5,590,503.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other DocuSign news, insider James P. Shaughnessy sold 1,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $57.50, for a total value of $103,500.00. Following the sale, the insider now owns 46,503 shares of the company’s stock, valued at $2,673,922.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 8,086 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total value of $454,109.76. Following the completion of the sale, the chief executive officer now directly owns 99,546 shares in the company, valued at approximately $5,590,503.36. The disclosure for this sale can be found here. Insiders have sold 27,185 shares of company stock valued at $1,576,779 over the last quarter. Company insiders own 1.66% of the company’s stock.

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.