DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Westbourne Investment Advisors Inc.

Westbourne Investment Advisors Inc. lessened its stake in DocuSign, Inc. (NASDAQ:DOCU) by 7.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,835 shares of the company’s stock after selling 3,455 shares during the quarter. DocuSign accounts for about 1.4% of Westbourne Investment Advisors Inc.’s portfolio, making the stock its 26th largest holding. Westbourne Investment Advisors Inc.’s holdings in DocuSign were worth $4,122,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Fairvoy Private Wealth LLC acquired a new position in DocuSign in the 4th quarter worth about $3,345,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in DocuSign by 3.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,706 shares of the company’s stock worth $3,841,000 after purchasing an additional 1,270 shares during the period. Strategic Financial Concepts LLC purchased a new stake in DocuSign during the 4th quarter worth approximately $1,158,000. Telos Capital Management Inc. purchased a new stake in DocuSign during the 4th quarter worth approximately $221,000. Finally, Silver Oak Securities Incorporated purchased a new stake in DocuSign during the 4th quarter worth approximately $196,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. UBS Group boosted their price objective on DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price target (up previously from $57.00) on shares of DocuSign in a report on Friday, December 6th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Finally, Robert W. Baird increased their price target on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $92.45.

DocuSign Stock Down 3.6 %

DOCU opened at $90.48 on Friday. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The business has a fifty day simple moving average of $92.36 and a 200-day simple moving average of $73.96. The firm has a market cap of $18.28 billion, a P/E ratio of 18.66, a P/E/G ratio of 8.74 and a beta of 0.89.

Insider Transactions at DocuSign

In related news, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the transaction, the chief executive officer now directly owns 100,062 shares in the company, valued at approximately $8,058,993.48. This trade represents a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 sale, the director now directly owns 150,253 shares of the company’s stock, valued at $13,712,088.78. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 685,773 shares of company stock worth $66,032,726 over the last ninety days. Company insiders own 1.66% of the company’s stock.

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.