HighTower Advisors LLC lessened its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 11.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,413 shares of the company's stock after selling 6,821 shares during the period. HighTower Advisors LLC's holdings in DocuSign were worth $3,435,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Brooklyn Investment Group purchased a new position in DocuSign in the 3rd quarter worth approximately $33,000. Reston Wealth Management LLC acquired a new position in shares of DocuSign during the third quarter worth $47,000. nVerses Capital LLC purchased a new position in shares of DocuSign in the second quarter valued at $48,000. Quarry LP acquired a new stake in DocuSign during the 2nd quarter valued at $53,000. Finally, Truvestments Capital LLC purchased a new stake in DocuSign during the 3rd quarter worth $74,000. Institutional investors and hedge funds own 77.64% of the company's stock.
Insider Buying and Selling
In related news, CEO Allan C. Thygesen sold 7,648 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total value of $477,770.56. Following the sale, the chief executive officer now owns 115,589 shares of the company's stock, valued at $7,220,844.83. This trade represents a 6.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel D. Springer sold 581,588 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the transaction, the director now directly owns 906,430 shares of the company's stock, valued at $87,959,967.20. The trade was a 39.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 651,184 shares of company stock worth $60,878,829 over the last quarter. 1.66% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a research report on Friday, December 6th. HSBC restated a "reduce" rating on shares of DocuSign in a research note on Friday, December 6th. Citigroup upped their target price on DocuSign from $87.00 to $113.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Wells Fargo & Company increased their target price on DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted 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. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, DocuSign has an average rating of "Hold" and a consensus target price of $92.45.
Read Our Latest Report on DOCU
DocuSign Stock Performance
Shares of DocuSign stock traded down $0.23 during trading hours on Thursday, reaching $94.52. The company's stock had a trading volume of 2,548,571 shares, compared to its average volume of 2,987,027. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The company's 50 day simple moving average is $76.80 and its 200 day simple moving average is $62.86. The stock has a market cap of $19.19 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 11.08 and a beta of 0.92.
About DocuSign
(
Free Report)
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.
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