Steward Partners Investment Advisory LLC Trims Position in DocuSign, Inc. (NASDAQ:DOCU)

Steward Partners Investment Advisory LLC lessened its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 71.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,510 shares of the company’s stock after selling 23,963 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in DocuSign were worth $855,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of DocuSign by 2.3% during the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after purchasing an additional 120,743 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after purchasing an additional 53,554 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of DocuSign by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock worth $141,398,000 after purchasing an additional 112,919 shares in the last quarter. FMR LLC grew its holdings in shares of DocuSign by 16.8% during the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $136,156,000 after purchasing an additional 315,073 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of DocuSign by 61.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock worth $150,525,000 after purchasing an additional 637,505 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

Shares of DOCU stock opened at $77.86 on Tuesday. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The stock has a 50 day moving average price of $88.78 and a two-hundred day moving average price of $78.90. The company has a market capitalization of $15.73 billion, a P/E ratio of 16.05, a PEG ratio of 6.94 and a beta of 1.02.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several recent analyst reports. JMP Securities reissued a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a report on Tuesday, January 7th. Wells Fargo & Company boosted their price objective on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Jefferies Financial Group upped their target price on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Finally, HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus price target of $92.91.

Insider Buying and Selling at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was 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 in the company, valued at $731,825.60. This represents a 6.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the transaction, the chief executive officer now owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,422 shares of company stock worth $9,665,394. 1.66% of the stock is currently owned by 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.