Financial Advocates Investment Management Has $717,000 Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Financial Advocates Investment Management trimmed its position in DocuSign, Inc. (NASDAQ:DOCU) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,968 shares of the company’s stock after selling 569 shares during the quarter. Financial Advocates Investment Management’s holdings in DocuSign were worth $717,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in DOCU. State of Alaska Department of Revenue raised its stake in DocuSign by 494.2% during the 4th quarter. State of Alaska Department of Revenue now owns 23,145 shares of the company’s stock valued at $2,081,000 after purchasing an additional 19,250 shares during the period. Adero Partners LLC purchased a new stake in DocuSign in the 4th quarter worth about $272,000. Choreo LLC boosted its holdings in shares of DocuSign by 15.3% during the fourth quarter. Choreo LLC now owns 5,973 shares of the company’s stock worth $547,000 after purchasing an additional 791 shares during the period. WT Asset Management Ltd purchased a new position in DocuSign during the fourth quarter valued at approximately $1,533,000. Finally, Stratos Wealth Advisors LLC acquired a new position in DocuSign in the 4th quarter valued at approximately $1,116,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. HSBC reissued a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Wells Fargo & Company upped their target price on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. JMP Securities reiterated a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a report on Tuesday, January 7th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Tuesday. Finally, Morgan Stanley lifted their price objective on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $92.45.

DocuSign Stock Down 3.6 %

Shares of DOCU opened at $90.48 on Friday. The stock’s 50-day moving average price is $92.36 and its 200 day moving average price is $73.96. The firm has a market capitalization of $18.28 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 8.74 and a beta of 0.89. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $94.60, for a total value of $50,516.40. Following the completion of the transaction, the director now directly owns 7,736 shares of the company’s stock, valued at approximately $731,825.60. This represents a 6.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel D. Springer sold 581,588 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the sale, the director now directly owns 906,430 shares in the company, valued at approximately $87,959,967.20. This represents a 39.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 685,773 shares of company stock worth $66,032,726. Company insiders own 1.66% of the company’s stock.

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.