DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Zacks Investment Management

Zacks Investment Management trimmed its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 48.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,405 shares of the company’s stock after selling 25,099 shares during the period. Zacks Investment Management’s holdings in DocuSign were worth $1,639,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Inspire Investing LLC acquired a new position in shares of DocuSign in the 3rd quarter worth $911,000. Charles Schwab Investment Management Inc. increased its position in DocuSign by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock worth $82,478,000 after buying an additional 16,014 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of DocuSign by 5,660.8% in the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after acquiring an additional 431,295 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of DocuSign by 39.5% in the third quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after buying an additional 57,104 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in DocuSign by 7.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock valued at $80,501,000 after acquiring an additional 85,987 shares during the period. 77.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the sale, the chief executive officer now directly owns 100,062 shares in the company, valued at $8,058,993.48. This represents a 7.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $68.80, for a total transaction of $657,177.60. Following the completion of the transaction, the chief financial officer now owns 78,265 shares in the company, valued at $5,384,632. The trade was a 10.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,596 shares of company stock valued at $4,441,529 in the last quarter. Corporate insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

NASDAQ:DOCU opened at $102.26 on Tuesday. The business’s fifty day moving average is $75.46 and its 200 day moving average is $62.36. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The firm has a market cap of $20.76 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 11.08 and a beta of 0.92.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on DOCU shares. Morgan Stanley lifted their price objective on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday. UBS Group lifted their price objective on DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday. JPMorgan Chase & Co. upped their target price on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Jefferies Financial Group boosted their price objective on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Citigroup lifted their price objective on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday. Three equities 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 stock. Based on data from MarketBeat, DocuSign has an average rating of “Hold” and an average target price of $92.45.

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.