PFG Investments LLC Cuts Stake in DocuSign, Inc. (NASDAQ:DOCU)

PFG Investments LLC lessened its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 53.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,219 shares of the company’s stock after selling 3,752 shares during the quarter. PFG Investments LLC’s holdings in DocuSign were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DOCU. JPMorgan Chase & Co. lifted their target price on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Morgan Stanley boosted their price target on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, DocuSign presently has an average rating of “Hold” and an average price target of $92.45.

Insider Activity

In other news, CEO Allan C. Thygesen sold 7,763 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total value of $625,232.02. Following the sale, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at $8,058,993.48. The trade was a 7.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter Solvik sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the transaction, the director now directly owns 150,253 shares of the company’s stock, valued at approximately $13,712,088.78. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 685,773 shares of company stock worth $66,032,726. Corporate insiders own 1.66% of the company’s stock.

DocuSign Stock Up 0.9 %

NASDAQ DOCU opened at $96.73 on Friday. The stock’s 50 day moving average is $91.05 and its 200 day moving average is $72.58. The firm has a market capitalization of $19.54 billion, a PE ratio of 19.94, a P/E/G ratio of 8.63 and a beta of 0.88. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86.

DocuSign Company 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.