Atria Wealth Solutions Inc. Sells 7,168 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Atria Wealth Solutions Inc. lessened its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 44.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,958 shares of the company's stock after selling 7,168 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in DocuSign were worth $806,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Kornitzer Capital Management Inc. KS bought a new stake in DocuSign in the fourth quarter worth $836,000. Truist Financial Corp increased its position in DocuSign by 57.8% in the fourth quarter. Truist Financial Corp now owns 7,318 shares of the company's stock worth $658,000 after purchasing an additional 2,680 shares during the last quarter. CIBC Asset Management Inc increased its position in DocuSign by 14.0% in the fourth quarter. CIBC Asset Management Inc now owns 8,313 shares of the company's stock worth $748,000 after purchasing an additional 1,020 shares during the last quarter. Meredith Wealth Planning bought a new stake in DocuSign in the fourth quarter worth $231,000. Finally, Principal Financial Group Inc. increased its position in DocuSign by 3,026.7% in the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company's stock worth $49,179,000 after purchasing an additional 529,308 shares during the last quarter. Institutional investors own 77.64% of the company's stock.

Insider Buying and Selling

In related news, insider Robert Chatwani sold 14,800 shares of the company's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total value of $1,446,848.00. Following the completion of the sale, the insider now directly owns 73,414 shares of the company's stock, valued at $7,176,952.64. This represents a 16.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel D. Springer sold 581,588 shares of the company's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the completion of the sale, the director now directly owns 906,430 shares of the company's stock, valued at approximately $87,959,967.20. This trade represents a 39.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 693,773 shares of company stock valued at $66,727,926 over the last three months. 1.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. HSBC reiterated a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research report on Tuesday, December 3rd. Wells Fargo & Company boosted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research report on Friday, December 6th. Morgan Stanley boosted their price objective on shares of DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $90.00 price objective (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $92.45.

DocuSign Trading Up 2.3 %

Shares of NASDAQ DOCU traded up $1.89 during mid-day trading on Friday, reaching $83.17. The company had a trading volume of 2,316,769 shares, compared to its average volume of 2,043,412. The business's 50-day moving average is $90.43 and its 200-day moving average is $77.57. The stock has a market cap of $16.80 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 6.94 and a beta of 0.89. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

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.