Steward Partners Investment Advisory LLC Cuts Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Steward Partners Investment Advisory LLC cut its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 71.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,510 shares of the company's stock after selling 23,963 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in DocuSign were worth $855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of DOCU. Toronto Dominion Bank grew its stake in shares of DocuSign by 30.3% in the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company's stock worth $1,624,000 after buying an additional 6,081 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of DocuSign by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company's stock worth $82,478,000 after buying an additional 16,014 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of DocuSign by 39.5% in the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company's stock worth $12,514,000 after buying an additional 57,104 shares during the last quarter. Rhumbline Advisers grew its stake in shares of DocuSign by 118.8% in the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company's stock worth $54,695,000 after buying an additional 330,136 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of DocuSign by 32.7% in the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company's stock worth $138,067,000 after buying an additional 378,233 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the sale, the chief financial officer now owns 77,851 shares in the company, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert Chatwani sold 14,800 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total value 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. The trade was a 16.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,422 shares of company stock valued at $9,665,394. 1.66% of the stock is owned by company insiders.

DocuSign Trading Down 6.8 %

DocuSign stock traded down $5.43 during trading on Thursday, reaching $74.70. The company had a trading volume of 6,981,265 shares, compared to its average volume of 2,197,298. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The firm's 50-day simple moving average is $88.06 and its 200 day simple moving average is $79.04. The firm has a market capitalization of $15.09 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

Analyst Ratings Changes

DOCU has been the topic of several analyst reports. JPMorgan Chase & Co. raised DocuSign from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $70.00 to $75.00 in a research report on Monday. Piper Sandler upped their price objective on DocuSign from $60.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research report on Tuesday, February 4th. UBS Group upped their price objective on DocuSign from $60.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Finally, Hsbc Global Res raised DocuSign to a "moderate sell" rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $92.91.

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.