Apollon Wealth Management LLC Cuts Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Apollon Wealth Management LLC trimmed its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 28.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,336 shares of the company’s stock after selling 926 shares during the period. Apollon Wealth Management LLC’s holdings in DocuSign were worth $210,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Avior Wealth Management LLC increased its stake in shares of DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after purchasing an additional 145 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its position in shares of DocuSign by 1.1% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 13,540 shares of the company’s stock valued at $1,218,000 after acquiring an additional 149 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position 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 valued at $493,000 after acquiring an additional 155 shares in the last quarter. Resonant Capital Advisors LLC increased its position in shares of 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 purchasing an additional 157 shares in the last quarter. Finally, Optimist Retirement Group LLC increased its position in shares of DocuSign by 3.8% during the third quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock worth $274,000 after purchasing an additional 161 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DOCU. Jefferies Financial Group raised their price objective on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Wells Fargo & Company raised their price target on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Morgan Stanley upped their price objective on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. JMP Securities reissued a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Finally, Citigroup upped their price target on DocuSign from $87.00 to $113.00 and gave the company a “buy” 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, the stock has an average rating of “Hold” and an average price target of $92.45.

DocuSign Stock Down 1.5 %

NASDAQ:DOCU opened at $87.34 on Friday. The company has a market capitalization of $17.64 billion, a P/E ratio of 18.01, a P/E/G ratio of 7.56 and a beta of 0.89. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The stock’s fifty day moving average is $92.73 and its two-hundred day moving average is $75.49.

Insider Activity at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $94.60, for a total transaction of $50,516.40. Following the completion of the transaction, the director now owns 7,736 shares of the company’s stock, valued at approximately $731,825.60. This trade represents a 6.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the sale, the chief executive officer now directly owns 100,062 shares in the company, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 685,773 shares of company stock worth $66,032,726. 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.