Selective Wealth Management Inc. Sells 6,099 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Selective Wealth Management Inc. trimmed its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,750 shares of the company's stock after selling 6,099 shares during the period. DocuSign comprises 1.7% of Selective Wealth Management Inc.'s portfolio, making the stock its 13th biggest holding. Selective Wealth Management Inc.'s holdings in DocuSign were worth $4,302,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its position in shares of DocuSign by 17.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,961 shares of the company's stock valued at $265,000 after acquiring an additional 741 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in DocuSign during the second quarter valued at about $1,709,000. Dimensional Fund Advisors LP grew its holdings in DocuSign by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 610,728 shares of the company's stock valued at $32,671,000 after purchasing an additional 75,133 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in DocuSign by 2.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,080 shares of the company's stock worth $539,000 after buying an additional 286 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co raised its stake in shares of DocuSign by 1.1% in the second quarter. Elo Mutual Pension Insurance Co now owns 18,848 shares of the company's stock worth $1,008,000 after buying an additional 214 shares during the period. 77.64% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Blake Jeffrey Grayson sold 15,588 shares of the company's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the sale, the chief financial officer now directly owns 85,851 shares in the company, valued at approximately $8,394,510.78. This represents a 15.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the transaction, the director now owns 150,253 shares of the company's stock, valued at approximately $13,712,088.78. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 693,537 shares of company stock worth $66,575,817. 1.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DOCU shares. Robert W. Baird increased their target price on shares of DocuSign from $59.00 to $100.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. HSBC reissued a "reduce" rating on shares of DocuSign in a research note on Friday, December 6th. Hsbc Global Res upgraded shares of DocuSign to a "moderate sell" rating in a research note on Friday, December 6th. Jefferies Financial Group increased their price target on DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on DocuSign from $50.00 to $70.00 and gave the company an "underweight" rating in a research report on Tuesday, December 3rd. Three 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's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $92.45.

DocuSign Stock Down 1.7 %

NASDAQ DOCU traded down $1.56 during trading on Friday, hitting $89.60. 2,379,686 shares of the stock traded hands, compared to its average volume of 2,651,414. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The firm has a 50-day simple moving average of $88.76 and a 200-day simple moving average of $70.27. The company has a market capitalization of $18.10 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 8.17 and a beta of 0.88.

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.