Sunbelt Securities Inc. Acquires 572 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Sunbelt Securities Inc. grew its holdings in shares of DocuSign, Inc. (NASDAQ:DOCUFree Report) by 20.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,412 shares of the company’s stock after buying an additional 572 shares during the quarter. Sunbelt Securities Inc.’s holdings in DocuSign were worth $203,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DOCU. Capital Analysts LLC increased its holdings in DocuSign by 781.7% during the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after buying an additional 469 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of DocuSign in the 4th quarter valued at about $32,000. ICA Group Wealth Management LLC bought a new stake in shares of DocuSign in the 4th quarter valued at about $39,000. Whittier Trust Co. lifted its stake in DocuSign by 28.8% in the 4th quarter. Whittier Trust Co. now owns 935 shares of the company’s stock valued at $56,000 after purchasing an additional 209 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. grew its holdings in DocuSign by 60.5% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 966 shares of the company’s stock worth $57,000 after purchasing an additional 364 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DOCU has been the topic of several research analyst reports. Robert W. Baird dropped their price objective on DocuSign from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Morgan Stanley cut their price target on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, June 7th. UBS Group raised shares of DocuSign from a “sell” rating to a “neutral” rating and increased their price objective for the company from $48.00 to $62.00 in a research report on Friday, April 12th. Finally, Bank of America reduced their target price on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.36.

Get Our Latest Stock Analysis on DOCU

Insider Buying and Selling

In other DocuSign news, CEO Allan C. Thygesen sold 8,086 shares of DocuSign stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $56.16, for a total value of $454,109.76. Following the completion of the transaction, the chief executive officer now directly owns 99,546 shares of the company’s stock, valued at approximately $5,590,503.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $52.17, for a total transaction of $772,063.83. Following the sale, the insider now owns 68,083 shares in the company, valued at approximately $3,551,890.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 8,086 shares of DocuSign stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total transaction of $454,109.76. Following the completion of the transaction, the chief executive officer now directly owns 99,546 shares in the company, valued at $5,590,503.36. The disclosure for this sale can be found here. Insiders have sold 91,107 shares of company stock valued at $4,861,484 over the last 90 days. 1.66% of the stock is owned by corporate insiders.

DocuSign Trading Up 1.5 %

Shares of DOCU opened at $53.50 on Friday. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76. The firm’s 50 day moving average is $55.65 and its 200-day moving average is $56.77. The stock has a market capitalization of $10.95 billion, a PE ratio of 102.89, a P/E/G ratio of 4.32 and a beta of 0.89.

DocuSign Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding DOCU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DocuSign, Inc. (NASDAQ:DOCUFree Report).

Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

Receive News & Ratings for DocuSign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DocuSign and related companies with MarketBeat.com's FREE daily email newsletter.