Sage Rhino Capital LLC Sells 17,811 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Sage Rhino Capital LLC decreased its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 49.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,112 shares of the company's stock after selling 17,811 shares during the quarter. Sage Rhino Capital LLC's holdings in DocuSign were worth $1,629,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Kestra Investment Management LLC bought a new position in shares of DocuSign during the fourth quarter valued at about $30,000. First Horizon Advisors Inc. lifted its position in shares of DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after buying an additional 201 shares in the last quarter. Modus Advisors LLC bought a new position in shares of DocuSign during the 4th quarter worth approximately $36,000. Itau Unibanco Holding S.A. purchased a new position in shares of DocuSign in the 3rd quarter worth approximately $28,000. Finally, Avion Wealth grew its holdings in shares of DocuSign by 309.2% in the fourth quarter. Avion Wealth now owns 487 shares of the company's stock valued at $43,000 after acquiring an additional 368 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Insider Activity

In other news, CEO Allan C. Thygesen sold 40,000 shares of the business's stock in a transaction on 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 directly owns 156,050 shares in the company, valued at $14,050,742. The trade was a 20.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, the director now owns 7,736 shares in the company, valued at $731,825.60. This trade represents a 6.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 686,010 shares of company stock worth $66,102,694 over the last ninety days. Company insiders own 1.66% of the company's stock.

DocuSign Stock Down 1.8 %

DOCU traded down $1.47 during trading on Monday, reaching $81.70. 1,577,965 shares of the company were exchanged, compared to its average volume of 2,031,790. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The company's 50-day moving average is $90.43 and its two-hundred day moving average is $77.90. The company has a market cap of $16.51 billion, a price-to-earnings ratio of 16.85, a P/E/G ratio of 6.94 and a beta of 0.89.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a report on Friday, December 6th. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research note on Tuesday, February 4th. UBS Group raised their price objective on shares of DocuSign from $60.00 to $100.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Jefferies Financial Group lifted their price target on shares of DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Finally, Citigroup raised their target price on DocuSign from $87.00 to $113.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price 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.