Zacks Investment Management Cuts Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Zacks Investment Management trimmed its position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 48.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,405 shares of the company's stock after selling 25,099 shares during the period. Zacks Investment Management's holdings in DocuSign were worth $1,639,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. J.W. Cole Advisors Inc. lifted its holdings in DocuSign by 2.0% in the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company's stock worth $493,000 after buying an additional 155 shares during the period. Resonant Capital Advisors LLC increased its stake in shares of DocuSign by 0.9% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company's stock worth $1,088,000 after acquiring an additional 157 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in DocuSign by 6.0% during the third quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company's stock worth $187,000 after acquiring an additional 172 shares in the last quarter. Dakota Wealth Management grew its holdings in DocuSign by 0.8% in the second quarter. Dakota Wealth Management now owns 23,022 shares of the company's stock worth $1,232,000 after purchasing an additional 181 shares during the period. Finally, Covestor Ltd grew its holdings in DocuSign by 5.8% in the third quarter. Covestor Ltd now owns 3,306 shares of the company's stock worth $205,000 after purchasing an additional 182 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at DocuSign

In other news, insider Robert Chatwani sold 14,799 shares of the firm's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the sale, the insider now directly owns 70,748 shares in the company, valued at $3,923,684.08. This trade represents a 17.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following the sale, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. This represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,596 shares of company stock worth $4,441,529 in the last three months. 1.66% of the stock is currently owned by company insiders.

DocuSign Stock Performance

Shares of DOCU stock traded down $6.41 on Tuesday, reaching $95.85. The stock had a trading volume of 6,786,668 shares, compared to its average volume of 2,984,491. The stock has a market cap of $19.45 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 11.08 and a beta of 0.92. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The company has a 50 day simple moving average of $75.46 and a 200 day simple moving average of $62.36.

Analyst Upgrades and Downgrades

DOCU has been the topic of several analyst reports. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a report on Friday. JPMorgan Chase & Co. upped 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 Tuesday, December 3rd. Robert W. Baird raised their price objective on shares of DocuSign from $59.00 to $100.00 and gave the company a "neutral" rating in a research note on Friday. Piper Sandler upped their target price on shares of DocuSign from $60.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Bank of America raised their price target on shares of DocuSign from $60.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, September 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $92.45.

About DocuSign

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.