DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 67.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,221 shares of the company's stock after selling 84,295 shares during the period. Los Angeles Capital Management LLC's holdings in DocuSign were worth $3,707,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Synergy Financial Group LTD grew its position in shares of DocuSign by 3.4% during the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company's stock worth $381,000 after buying an additional 140 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock valued at $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% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 13,540 shares of the company's stock worth $1,218,000 after purchasing an additional 149 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of DocuSign by 2.0% during the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company's stock worth $493,000 after purchasing an additional 155 shares in the last quarter. Finally, Optimist Retirement Group LLC grew its stake 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. 77.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a report on Tuesday, February 4th. HSBC restated a "reduce" rating on shares of DocuSign in a report on Friday, December 6th. Morgan Stanley lifted their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a research note on Friday, December 6th. Royal Bank of Canada reiterated a "sector perform" rating and set a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Finally, Piper Sandler upped their target price on DocuSign from $60.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $92.45.

Insider Transactions at DocuSign

In related news, Director Daniel D. Springer sold 581,588 shares of the stock in a transaction on 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 sale, the director now owns 906,430 shares of the company's stock, valued at $87,959,967.20. This trade represents a 39.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the transaction, the chief financial officer now directly owns 77,851 shares of the company's stock, valued at $6,765,251.90. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 686,010 shares of company stock valued at $66,102,694 in the last ninety days. 1.66% of the stock is currently owned by company insiders.

DocuSign Stock Performance

DocuSign stock traded down $1.47 during trading hours on Monday, reaching $81.70. 1,560,440 shares of the stock were exchanged, compared to its average volume of 2,031,135. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The stock has a market cap of $16.51 billion, a P/E ratio of 16.85, a P/E/G ratio of 6.94 and a beta of 0.89. The firm's 50 day moving average is $90.43 and its 200 day moving average is $77.90.

DocuSign Company 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.