Inspire Advisors LLC Decreases Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Inspire Advisors LLC lowered its stake in DocuSign, Inc. (NASDAQ:DOCU) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,410 shares of the company’s stock after selling 1,334 shares during the quarter. Inspire Advisors LLC’s holdings in DocuSign were worth $2,195,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DOCU. US Bancorp DE raised its position in shares of DocuSign by 12.6% during the 3rd quarter. US Bancorp DE now owns 3,561 shares of the company’s stock valued at $221,000 after buying an additional 398 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of DocuSign by 0.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 28,946 shares of the company’s stock valued at $1,797,000 after buying an additional 227 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of DocuSign during the 3rd quarter valued at about $1,030,000. Covestor Ltd raised its position in shares of DocuSign by 5.8% during the 3rd quarter. Covestor Ltd now owns 3,306 shares of the company’s stock valued at $205,000 after buying an additional 182 shares in the last quarter. Finally, Baker Avenue Asset Management LP purchased a new stake in shares of DocuSign during the 3rd quarter valued at about $201,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

Shares of DOCU stock opened at $77.86 on Tuesday. The company has a market capitalization of $15.73 billion, a P/E ratio of 16.05, a P/E/G ratio of 6.94 and a beta of 1.02. The company’s 50-day simple moving average is $88.78 and its two-hundred day simple moving average is $78.90. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the transaction, the chief financial officer now directly owns 77,851 shares in the company, valued at $6,765,251.90. This represents a 9.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Chatwani sold 14,800 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the completion of the transaction, the insider now owns 73,414 shares in the company, valued at $7,176,952.64. This represents a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,422 shares of company stock worth $9,665,394 in the last three months. Corporate insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

DOCU has been the topic of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Tuesday, February 4th. HSBC restated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and upped their target price for the company from $70.00 to $75.00 in a research report on Monday. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price target (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. Finally, Citigroup reiterated a “buy” rating on shares of DocuSign in a report on Thursday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, DocuSign presently has a consensus rating of “Hold” and a consensus target price of $92.91.

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.