DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd cut its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 65.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,270 shares of the company's stock after selling 15,518 shares during the period. Plato Investment Management Ltd's holdings in DocuSign were worth $747,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in DOCU. Wealth Enhancement Advisory Services LLC grew its position in DocuSign by 77.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,603 shares of the company's stock valued at $907,000 after buying an additional 6,390 shares during the last quarter. US Bancorp DE boosted its holdings in shares of DocuSign by 12.6% in the third quarter. US Bancorp DE now owns 3,561 shares of the company's stock valued at $221,000 after acquiring an additional 398 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of DocuSign by 41.7% during the third quarter. Farther Finance Advisors LLC now owns 4,320 shares of the company's stock worth $268,000 after acquiring an additional 1,271 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of DocuSign by 0.8% during the third quarter. Janney Montgomery Scott LLC now owns 28,946 shares of the company's stock worth $1,797,000 after acquiring an additional 227 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in DocuSign by 7.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company's stock worth $80,501,000 after purchasing an additional 85,987 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Price Performance

DOCU traded down $3.67 during midday trading on Thursday, reaching $78.69. 1,835,988 shares of the company's stock were exchanged, compared to its average volume of 2,014,953. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The stock has a market capitalization of $15.90 billion, a PE ratio of 16.23, a P/E/G ratio of 6.94 and a beta of 1.02. The business's 50-day moving average price is $89.64 and its 200 day moving average price is $78.28.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. HSBC reiterated a "reduce" rating on shares of DocuSign in a research report on Friday, December 6th. Morgan Stanley increased their price objective on DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a research report on Friday, December 6th. Jefferies Financial Group raised 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. Piper Sandler upped their price target on shares of DocuSign from $60.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research note on Tuesday, December 3rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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 DocuSign stock in a transaction dated 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 completion of the sale, the director now owns 906,430 shares in the company, valued at approximately $87,959,967.20. This trade represents a 39.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the transaction, the chief executive officer now owns 156,050 shares in the company, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 686,010 shares of company stock valued at $66,102,694 in the last ninety days. Corporate insiders own 1.66% of the company's stock.

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.