Venturi Wealth Management LLC Sells 4,139 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Venturi Wealth Management LLC cut its position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 61.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,583 shares of the company's stock after selling 4,139 shares during the quarter. Venturi Wealth Management LLC's holdings in DocuSign were worth $232,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Avior Wealth Management LLC increased its holdings in DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock valued at $49,000 after buying an additional 145 shares during the last quarter. Linden Thomas Advisory Services LLC increased its holdings in shares of DocuSign by 1.1% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 13,540 shares of the company's stock valued at $1,218,000 after buying an additional 149 shares in the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of DocuSign by 2.0% during the third quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company's stock valued at $493,000 after purchasing an additional 155 shares during the last quarter. Optimist Retirement Group LLC boosted its holdings in shares of DocuSign by 3.8% in the third quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company's stock worth $274,000 after buying an additional 161 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of DocuSign by 5.8% in the third quarter. Covestor Ltd now owns 3,306 shares of the company's stock valued at $205,000 after purchasing an additional 182 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DocuSign

In other news, Director Teresa Briggs sold 534 shares of DocuSign 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 transaction, the director now directly owns 7,736 shares in the company, valued at approximately $731,825.60. The trade was a 6.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the sale, the chief executive officer now directly owns 100,062 shares in the company, valued at $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 693,773 shares of company stock valued at $66,727,926 over the last ninety days. 1.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Royal Bank of Canada reissued a "sector perform" rating and issued a $90.00 price target (up previously from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Jefferies Financial Group increased their target price on shares of DocuSign from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Wells Fargo & Company upped their price objective on DocuSign from $50.00 to $70.00 and gave the stock an "underweight" rating in a report on Friday, December 6th. Citigroup upped their price objective on DocuSign from $87.00 to $113.00 and gave the company a "buy" rating in a report on Friday, December 6th. Finally, HSBC reaffirmed a "reduce" rating on shares of DocuSign in a research note 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 stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $92.45.

DocuSign Stock Performance

Shares of NASDAQ DOCU traded down $2.00 during trading on Tuesday, hitting $81.69. 2,507,924 shares of the company traded hands, compared to its average volume of 2,050,713. The firm has a market capitalization of $16.50 billion, a price-to-earnings ratio of 16.84, a P/E/G ratio of 6.94 and a beta of 0.89. The business's fifty day moving average is $91.12 and its 200 day moving average is $77.29. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

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.