DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 67.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,221 shares of the company’s stock after selling 84,295 shares during the quarter. Los Angeles Capital Management LLC’s holdings in DocuSign were worth $3,707,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Amalgamated Bank grew its position in DocuSign by 633.8% during the fourth quarter. Amalgamated Bank now owns 99,516 shares of the company’s stock worth $8,950,000 after buying an additional 85,954 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of DocuSign by 61.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock worth $150,525,000 after acquiring an additional 637,505 shares during the period. Synergy Financial Group LTD increased its stake in DocuSign by 3.4% in the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after purchasing an additional 140 shares in the last quarter. IFP Advisors Inc raised its holdings in DocuSign by 249.3% during the fourth quarter. IFP Advisors Inc now owns 2,798 shares of the company’s stock worth $252,000 after purchasing an additional 1,997 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in DocuSign during the fourth quarter worth $96,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Jefferies Financial Group raised their price target on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. HSBC restated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Tuesday, February 4th. Morgan Stanley lifted their price objective on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Finally, Piper Sandler upped their target price on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $92.45.

DocuSign Stock Down 1.2 %

Shares of DocuSign stock opened at $81.28 on Friday. The firm has a market cap of $16.42 billion, a PE ratio of 16.76, a P/E/G ratio of 6.94 and a beta of 0.89. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The business’s fifty day moving average is $90.65 and its two-hundred day moving average is $77.36.

Insider Buying and Selling

In other DocuSign news, CFO Blake Jeffrey Grayson sold 15,588 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 85,851 shares of the company’s stock, valued at $8,394,510.78. This trade represents a 15.37 % 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, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction 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 transaction, the chief executive officer now owns 100,062 shares in the company, valued at approximately $8,058,993.48. This trade represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 693,773 shares of company stock worth $66,727,926. 1.66% of the stock is owned by company insiders.

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.