Jupiter Asset Management Ltd. Reduces Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Jupiter Asset Management Ltd. reduced its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 54.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 778,741 shares of the company’s stock after selling 927,719 shares during the period. DocuSign accounts for about 0.7% of Jupiter Asset Management Ltd.’s investment portfolio, making the stock its 28th largest position. Jupiter Asset Management Ltd. owned about 0.39% of DocuSign worth $70,040,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in shares of DocuSign in the fourth quarter valued at $30,000. First Horizon Advisors Inc. grew its holdings in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after buying an additional 201 shares during the period. Modus Advisors LLC acquired a new position in shares of DocuSign during the 4th quarter valued at about $36,000. Itau Unibanco Holding S.A. acquired a new position in shares of DocuSign during the 3rd quarter valued at about $28,000. Finally, Avion Wealth lifted its holdings in shares of DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after acquiring an additional 368 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

Shares of DOCU stock opened at $79.50 on Wednesday. The company’s fifty day moving average price is $88.57 and its two-hundred day moving average price is $79.06. The firm has a market capitalization of $16.06 billion, a P/E ratio of 16.39, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DOCU shares. Citigroup reaffirmed a “buy” rating on shares of DocuSign in a research report on Thursday, March 6th. Morgan Stanley boosted 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. Jefferies Financial Group lifted their target price on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Wells Fargo & Company boosted their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price objective (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. 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 company. Based on data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and an average target price of $92.91.

Insider Buying and Selling

In other DocuSign news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $94.60, for a total value of $50,516.40. Following the transaction, the director now owns 7,736 shares of the company’s stock, valued at $731,825.60. This trade represents a 6.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,422 shares of company stock worth $9,665,394. 1.66% of the stock is currently owned by corporate insiders.

About DocuSign

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.