Empowered Funds LLC Sells 143,439 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Empowered Funds LLC reduced its position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 83.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,230 shares of the company's stock after selling 143,439 shares during the period. Empowered Funds LLC's holdings in DocuSign were worth $2,539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DOCU. Truist Financial Corp grew its holdings in shares of DocuSign by 18.1% during the second quarter. Truist Financial Corp now owns 9,138 shares of the company's stock worth $489,000 after purchasing an additional 1,399 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of DocuSign by 2,689.1% during the third quarter. Exchange Traded Concepts LLC now owns 3,849 shares of the company's stock worth $239,000 after purchasing an additional 3,711 shares during the last quarter. Creative Planning grew its holdings in shares of DocuSign by 5.6% during the third quarter. Creative Planning now owns 14,453 shares of the company's stock worth $897,000 after purchasing an additional 766 shares during the last quarter. Swedbank AB grew its holdings in shares of DocuSign by 6.1% during the third quarter. Swedbank AB now owns 124,131 shares of the company's stock worth $7,707,000 after purchasing an additional 7,090 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC grew its holdings in shares of DocuSign by 5.2% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 20,610 shares of the company's stock worth $1,280,000 after purchasing an additional 1,016 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

DocuSign Stock Down 1.5 %

NASDAQ DOCU traded down $1.29 on Monday, reaching $87.34. The company had a trading volume of 1,244,612 shares, compared to its average volume of 2,131,451. The stock 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. The company's fifty day moving average is $92.73 and its 200 day moving average is $75.64. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on DOCU shares. Robert W. Baird boosted their price target on DocuSign from $59.00 to $100.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 target price (up from $57.00) on shares of DocuSign 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 company a "buy" rating in a report on Tuesday, December 3rd. Morgan Stanley upped their target price on DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a report on Friday, December 6th. Finally, HSBC reiterated a "reduce" rating on shares of DocuSign in a report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $92.45.

Insider Activity at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 15,588 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the completion of the transaction, the chief financial officer now owns 85,851 shares in the company, valued at approximately $8,394,510.78. This represents a 15.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $94.60, for a total value of $50,516.40. Following the transaction, the director now owns 7,736 shares of the company's stock, valued at $731,825.60. The trade was a 6.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 685,773 shares of company stock valued at $66,032,726. 1.66% of the stock is 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.