Sanctuary Advisors LLC Sells 6,317 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Sanctuary Advisors LLC lowered its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 38.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,149 shares of the company's stock after selling 6,317 shares during the quarter. Sanctuary Advisors LLC's holdings in DocuSign were worth $630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in DOCU. Itau Unibanco Holding S.A. acquired a new position in DocuSign during the third quarter valued at $28,000. Brooklyn Investment Group acquired a new position in DocuSign during the 3rd quarter worth $33,000. Reston Wealth Management LLC acquired a new stake in DocuSign in the 3rd quarter valued at approximately $47,000. nVerses Capital LLC bought a new position in DocuSign in the 2nd quarter worth approximately $48,000. Finally, Quarry LP acquired a new position in shares of DocuSign during the second quarter worth approximately $53,000. Institutional investors own 77.64% of the company's stock.

DocuSign Trading Down 1.0 %

Shares of DocuSign stock traded down $0.95 during trading on Wednesday, reaching $94.85. The company's stock had a trading volume of 1,287,906 shares, compared to its average volume of 3,035,854. The stock has a 50-day moving average price of $81.88 and a two-hundred day moving average price of $65.46. The stock has a market capitalization of $19.16 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 8.72 and a beta of 0.92. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

Insider Buying and Selling at DocuSign

In other news, Director Daniel D. Springer sold 581,588 shares of the company's stock in a transaction on 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 transaction, the director now owns 906,430 shares of the company's stock, valued at $87,959,967.20. This represents a 39.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Allan C. Thygesen sold 7,648 shares of DocuSign stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $62.47, for a total value of $477,770.56. Following the completion of the sale, the chief executive officer now owns 115,589 shares of the company's stock, valued at approximately $7,220,844.83. The trade was a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 660,737 shares of company stock worth $63,029,016. 1.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. HSBC restated a "reduce" rating on shares of DocuSign in a research note on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a report on Tuesday, December 3rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Bank of America boosted their price target on DocuSign from $60.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, September 6th. Finally, Morgan Stanley boosted their price objective on DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a research report on Friday, December 6th. Three 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $92.45.

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.