Allspring Global Investments Holdings LLC Sells 41,270 Shares of Docusign Inc. $DOCU

Allspring Global Investments Holdings LLC lowered its position in shares of Docusign Inc. (NASDAQ:DOCU) by 54.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,112 shares of the company’s stock after selling 41,270 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Docusign were worth $2,422,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOCU. Twin Peaks Wealth Advisors LLC purchased a new position in Docusign during the 2nd quarter valued at about $43,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Docusign by 31.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 595 shares of the company’s stock valued at $46,000 after purchasing an additional 142 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Docusign by 48.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 590 shares of the company’s stock worth $46,000 after purchasing an additional 193 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of Docusign by 106.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 848 shares of the company’s stock worth $66,000 after buying an additional 437 shares during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Docusign in the 2nd quarter worth approximately $70,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Docusign Stock Performance

DOCU stock opened at $69.80 on Friday. The firm has a fifty day moving average price of $68.52 and a 200 day moving average price of $72.97. Docusign Inc. has a fifty-two week low of $63.41 and a fifty-two week high of $99.30. The firm has a market cap of $13.98 billion, a PE ratio of 48.81, a price-to-earnings-growth ratio of 3.43 and a beta of 0.99.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Docusign in a research note on Wednesday, October 8th. Wells Fargo & Company decreased their price target on Docusign from $85.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, December 5th. Piper Sandler lowered their price objective on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Zacks Research cut Docusign from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, UBS Group cut their price objective on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Six investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $85.13.

Insider Transactions at Docusign

In related news, Director James A. Beer sold 450 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $68.54, for a total value of $30,843.00. Following the completion of the sale, the director directly owned 14,478 shares in the company, valued at $992,322.12. This trade represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $67.05, for a total transaction of $402,300.00. Following the transaction, the executive directly owned 68,970 shares of the company’s stock, valued at $4,624,438.50. The trade was a 8.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 45,542 shares of company stock worth $3,092,260. 1.01% of the stock is currently owned by corporate insiders.

About Docusign

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.