DocuSign, Inc. (NASDAQ:DOCU) Stake Cut by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC reduced its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 15.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,045 shares of the company’s stock after selling 925 shares during the period. Philip James Wealth Mangement LLC’s holdings in DocuSign were worth $454,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DOCU. Itau Unibanco Holding S.A. purchased a new stake in DocuSign in the 3rd quarter worth about $28,000. Brooklyn Investment Group purchased a new stake in DocuSign in the 3rd quarter worth about $33,000. Modus Advisors LLC purchased a new stake in DocuSign in the 4th quarter worth about $36,000. Avion Wealth lifted its stake in DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after acquiring an additional 368 shares in the last quarter. Finally, Reston Wealth Management LLC purchased a new stake in DocuSign in the 3rd quarter worth about $47,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. 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. Citigroup upped their target price on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Robert W. Baird upped their target price on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Jefferies Financial Group upped their target price on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $92.45.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $87.34 on Monday. The firm has a market cap of $17.64 billion, a price-to-earnings ratio of 18.01, a P/E/G ratio of 7.56 and a beta of 0.89. The business’s 50-day simple moving average is $92.73 and its 200-day simple moving average is $75.49. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

Insider Activity

In other DocuSign news, CEO Allan C. Thygesen sold 7,763 shares of the firm’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 owns 100,062 shares of the company’s stock, valued at $8,058,993.48. This trade represents a 7.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 completion of the sale, the director now directly owns 150,253 shares in the company, valued at $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 quarter, insiders have sold 685,773 shares of company stock valued at $66,032,726. Insiders own 1.66% of the company’s stock.

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.