Westbourne Investment Advisors Inc. Has $2.53 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Westbourne Investment Advisors Inc. increased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 3.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 42,603 shares of the company’s stock after buying an additional 1,560 shares during the quarter. Westbourne Investment Advisors Inc.’s holdings in DocuSign were worth $2,533,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOCU. MetLife Investment Management LLC bought a new position in DocuSign during the first quarter valued at approximately $1,337,000. Raymond James Trust N.A. raised its position in shares of DocuSign by 27.3% in the first quarter. Raymond James Trust N.A. now owns 4,206 shares of the company’s stock valued at $450,000 after purchasing an additional 901 shares during the period. Sei Investments Co. raised its position in shares of DocuSign by 21.8% in the first quarter. Sei Investments Co. now owns 177,214 shares of the company’s stock valued at $18,934,000 after purchasing an additional 31,769 shares during the period. National Pension Service raised its position in shares of DocuSign by 25.9% in the first quarter. National Pension Service now owns 347,633 shares of the company’s stock valued at $37,238,000 after purchasing an additional 71,449 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of DocuSign by 20.3% in the first quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock valued at $1,854,127,000 after purchasing an additional 2,917,683 shares during the period. Institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

NASDAQ:DOCU traded up $0.62 on Thursday, hitting $59.89. 424,590 shares of the stock were exchanged, compared to its average volume of 3,806,996. The stock has a market capitalization of $12.30 billion, a price-to-earnings ratio of 164.64, a P/E/G ratio of 5.40 and a beta of 0.87. DocuSign, Inc. has a 52 week low of $38.11 and a 52 week high of $64.76. The company’s 50-day moving average price is $55.96 and its 200 day moving average price is $50.29.

Insiders Place Their Bets

In other news, Director Teresa Briggs sold 499 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $52.99, for a total value of $26,442.01. Following the completion of the sale, the director now directly owns 6,169 shares of the company’s stock, valued at approximately $326,895.31. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Allan C. Thygesen sold 7,680 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $61.27, for a total value of $470,553.60. Following the completion of the sale, the chief executive officer now directly owns 111,767 shares of the company’s stock, valued at approximately $6,847,964.09. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 499 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $52.99, for a total value of $26,442.01. Following the completion of the transaction, the director now owns 6,169 shares of the company’s stock, valued at $326,895.31. The disclosure for this sale can be found here. In the last three months, insiders sold 45,491 shares of company stock valued at $2,604,469. 17.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DOCU shares. JPMorgan Chase & Co. lowered their price objective on shares of DocuSign from $50.00 to $45.00 and set an “underweight” rating on the stock in a research note on Friday, December 8th. JMP Securities restated a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a research note on Monday, January 22nd. Wells Fargo & Company decreased their price target on shares of DocuSign from $55.00 to $45.00 and set an “underweight” rating on the stock in a research note on Monday, February 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $50.00 price target on shares of DocuSign in a research note on Friday, January 12th. Finally, Morgan Stanley upgraded shares of DocuSign from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $49.00 to $64.00 in a research note on Tuesday, January 16th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, DocuSign presently has a consensus rating of “Hold” and an average price target of $58.33.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.