Burney Co. Has $8.78 Million Stock Position in Docusign Inc. $DOCU

Burney Co. cut its holdings in shares of Docusign Inc. (NASDAQ:DOCU) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,825 shares of the company’s stock after selling 9,440 shares during the period. Burney Co. owned approximately 0.06% of Docusign worth $8,782,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in DOCU. State Street Corp increased its holdings in Docusign by 3.0% during the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after purchasing an additional 236,494 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Docusign by 1.6% during the second quarter. American Century Companies Inc. now owns 5,564,318 shares of the company’s stock valued at $433,405,000 after buying an additional 86,560 shares during the last quarter. Geode Capital Management LLC grew its holdings in Docusign by 1.5% during the second quarter. Geode Capital Management LLC now owns 3,985,808 shares of the company’s stock worth $309,910,000 after buying an additional 59,941 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Docusign by 18.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,028,505 shares of the company’s stock valued at $165,120,000 after buying an additional 318,698 shares during the last quarter. Finally, Norges Bank bought a new position in Docusign during the 2nd quarter valued at $140,987,000. Institutional investors own 77.64% of the company’s stock.

Insider Transactions at Docusign

In related news, Director Anna Marrs sold 365 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $68.54, for a total value of $25,017.10. Following the sale, the director directly owned 11,163 shares of the company’s stock, valued at $765,112.02. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Teresa Briggs sold 365 shares of Docusign stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $69.19, for a total transaction of $25,254.35. Following the sale, the director owned 8,805 shares of the company’s stock, valued at approximately $609,217.95. The trade was a 3.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 87,542 shares of company stock worth $6,097,905. 1.01% of the stock is owned by insiders.

Docusign Trading Up 0.5%

NASDAQ:DOCU opened at $69.97 on Friday. The stock has a market capitalization of $14.01 billion, a PE ratio of 48.93, a price-to-earnings-growth ratio of 3.50 and a beta of 0.98. Docusign Inc. has a 12 month low of $63.41 and a 12 month high of $99.30. The firm’s 50 day moving average is $69.12 and its 200 day moving average is $73.46.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Zacks Research lowered shares of Docusign from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Wells Fargo & Company cut their price target on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, December 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $124.00 price objective on shares of Docusign in a research report on Friday, October 3rd. Argus reissued a “hold” rating on shares of Docusign in a research report on Monday, September 8th. Finally, Evercore ISI cut their target price on Docusign from $92.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday, December 5th. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $86.80.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.