Essex LLC Sells 620 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Essex LLC cut its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,068 shares of the company’s stock after selling 620 shares during the period. Essex LLC’s holdings in DocuSign were worth $546,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Itau Unibanco Holding S.A. purchased a new stake in DocuSign in the 3rd quarter worth about $28,000. Brooklyn Investment Group bought a new position in shares of DocuSign during the third quarter valued at approximately $33,000. Modus Advisors LLC purchased a new stake in shares of DocuSign in the fourth quarter worth approximately $36,000. Reston Wealth Management LLC bought a new stake in shares of DocuSign during the 3rd quarter worth approximately $47,000. Finally, Avior Wealth Management LLC boosted its holdings in DocuSign by 36.5% during the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after acquiring an additional 145 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group raised their price target on shares of DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Robert W. Baird raised their target price on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company increased their price objective on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Finally, Jefferies Financial Group increased their price target on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, DocuSign presently has an average rating of “Hold” and a consensus price target of $92.45.

Insider Buying and Selling

In other DocuSign news, insider Robert Chatwani sold 14,800 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total value of $1,446,848.00. Following the completion of the sale, the insider now directly owns 73,414 shares in the company, valued at approximately $7,176,952.64. This trade represents a 16.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. This represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 685,773 shares of company stock worth $66,032,726 in the last 90 days. 1.66% of the stock is owned by corporate insiders.

DocuSign Stock Performance

DOCU stock opened at $90.48 on Friday. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The firm has a market cap of $18.28 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 7.56 and a beta of 0.89. The firm has a 50-day simple moving average of $92.58 and a two-hundred day simple moving average of $74.20.

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.