DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. reduced its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,409 shares of the company’s stock after selling 870 shares during the quarter. Washington Trust Advisors Inc.’s holdings in DocuSign were worth $1,566,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. State Street Corp lifted its holdings in shares of DocuSign by 2.3% in the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after buying an additional 120,743 shares during the period. Geode Capital Management LLC lifted its holdings in shares of DocuSign by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after buying an additional 53,554 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of DocuSign by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock valued at $141,398,000 after buying an additional 112,919 shares during the period. FMR LLC lifted its holdings in shares of DocuSign by 16.8% in the 3rd quarter. FMR LLC now owns 2,192,885 shares of the company’s stock valued at $136,156,000 after buying an additional 315,073 shares during the period. Finally, Bank of New York Mellon Corp lifted 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 valued at $150,525,000 after buying an additional 637,505 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at DocuSign

In other news, Director Daniel D. Springer sold 581,588 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $97.04, for a total transaction of $56,437,299.52. Following the sale, the director now owns 906,430 shares in the company, valued at $87,959,967.20. This trade represents a 39.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the sale, the chief executive officer now owns 156,050 shares in the company, valued at $14,050,742. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 686,010 shares of company stock worth $66,102,694 over the last quarter. 1.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on DOCU. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price objective (up from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Morgan Stanley raised their price objective on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. UBS Group raised their price objective on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Jefferies Financial Group raised their price objective on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $92.45.

DocuSign Stock Performance

DocuSign stock opened at $82.36 on Thursday. The stock has a fifty day moving average of $89.64 and a two-hundred day moving average of $78.28. The company has a market capitalization of $16.64 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 6.94 and a beta of 1.02. 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.