PFG Investments LLC Sells 3,752 Shares of DocuSign, Inc. (NASDAQ:DOCU)

PFG Investments LLC lessened its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 53.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,219 shares of the company's stock after selling 3,752 shares during the quarter. PFG Investments LLC's holdings in DocuSign were worth $290,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new stake in shares of DocuSign in the 3rd quarter valued at $28,000. Brooklyn Investment Group bought a new stake in shares of DocuSign in the third quarter worth about $33,000. Modus Advisors LLC acquired a new stake in shares of DocuSign during the fourth quarter worth about $36,000. Reston Wealth Management LLC bought a new position in shares of DocuSign during the 3rd quarter valued at about $47,000. Finally, Avior Wealth Management LLC grew its position 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 during the period. Institutional investors and hedge funds own 77.64% of the company's stock.

DocuSign Stock Performance

DOCU traded down $0.23 during trading on Monday, reaching $96.50. 2,719,058 shares of the stock were exchanged, compared to its average volume of 2,158,718. The stock's 50 day moving average price is $91.32 and its two-hundred day moving average price is $73.08. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The stock has a market cap of $19.50 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 8.74 and a beta of 0.88.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DOCU. Wells Fargo & Company lifted their price target on shares of DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research note on Friday, December 6th. Hsbc Global Res raised shares of DocuSign to a "moderate sell" rating in a research note on Friday, December 6th. JPMorgan Chase & Co. increased their target price on DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a report on Tuesday, December 3rd. Robert W. Baird boosted their price target on DocuSign from $59.00 to $100.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Finally, UBS Group increased their price objective on DocuSign from $60.00 to $100.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Three 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. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $92.45.

Insider Transactions at DocuSign

In other DocuSign news, insider Robert Chatwani sold 14,800 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the completion of the sale, the insider now owns 73,414 shares of the company's stock, valued at $7,176,952.64. This trade represents a 16.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $94.60, for a total transaction of $50,516.40. Following the completion of the transaction, the director now owns 7,736 shares in the company, valued at approximately $731,825.60. This represents a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 685,773 shares of company stock worth $66,032,726 in the last ninety days. Insiders own 1.66% of the company's stock.

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.