DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Ridgewood Investments LLC

Ridgewood Investments LLC trimmed its stake in DocuSign, Inc. (NASDAQ:DOCU) by 23.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,873 shares of the company’s stock after selling 1,512 shares during the quarter. Ridgewood Investments LLC’s holdings in DocuSign were worth $438,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its stake in DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after purchasing an additional 6,081 shares during the last quarter. Inspire Investing LLC acquired a new stake in DocuSign during the third quarter worth about $911,000. Charles Schwab Investment Management Inc. increased its stake in DocuSign by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after acquiring an additional 16,014 shares during the last quarter. International Assets Investment Management LLC increased its stake in DocuSign by 5,660.8% during the third quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock worth $27,252,000 after acquiring an additional 431,295 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in DocuSign by 39.5% during the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after acquiring an additional 57,104 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other DocuSign news, CFO Blake Jeffrey Grayson sold 9,552 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total value of $657,177.60. Following the completion of the sale, the chief financial officer now owns 78,265 shares of the company’s stock, valued at $5,384,632. The trade was a 10.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel D. Springer sold 581,588 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the sale, the director now directly owns 906,430 shares of the company’s stock, valued at $87,959,967.20. This represents a 39.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 693,089 shares of company stock worth $66,320,395. 1.66% of the stock is owned by corporate insiders.

DocuSign Stock Up 2.2 %

Shares of DocuSign stock traded up $1.98 during midday trading on Friday, hitting $91.49. The company’s stock had a trading volume of 1,192,624 shares, compared to its average volume of 1,800,652. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The firm has a market capitalization of $18.48 billion, a P/E ratio of 18.86, a PEG ratio of 8.72 and a beta of 0.88. The stock has a 50-day simple moving average of $86.80 and a 200-day simple moving average of $68.58.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DOCU shares. Wells Fargo & Company upped their target price on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Finally, UBS Group increased their price target on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $92.45.

DocuSign 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.