Glenmede Investment Management LP Has $51.89 Million Stake in Docusign Inc. $DOCU

Glenmede Investment Management LP lowered its position in Docusign Inc. (NASDAQ:DOCU) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 719,742 shares of the company’s stock after selling 24,886 shares during the period. Glenmede Investment Management LP owned 0.36% of Docusign worth $51,886,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of DOCU. Twin Peaks Wealth Advisors LLC acquired a new stake in Docusign during the 2nd quarter valued at $43,000. SJS Investment Consulting Inc. boosted its stake in Docusign by 5,318.2% in the third quarter. SJS Investment Consulting Inc. now owns 596 shares of the company’s stock worth $43,000 after purchasing an additional 585 shares in the last quarter. CX Institutional boosted its stake in Docusign by 5,860.0% in the third quarter. CX Institutional now owns 596 shares of the company’s stock worth $43,000 after purchasing an additional 586 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Docusign by 66.9% during the third quarter. Bessemer Group Inc. now owns 873 shares of the company’s stock worth $62,000 after purchasing an additional 350 shares during the last quarter. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of Docusign during the third quarter worth $67,000. 77.64% of the stock is currently owned by institutional investors.

Docusign Stock Up 1.2%

Docusign stock opened at $47.05 on Friday. The business’s 50-day simple moving average is $51.81 and its 200 day simple moving average is $64.99. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 2.02 and a beta of 1.03. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $94.67.

Insider Activity at Docusign

In other news, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $69.60, for a total transaction of $1,827,000.00. Following the completion of the sale, the chief executive officer owned 142,261 shares in the company, valued at $9,901,365.60. The trade was a 15.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Chatwani sold 13,818 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total transaction of $944,183.94. Following the sale, the insider directly owned 70,197 shares of the company’s stock, valued at approximately $4,796,561.01. This trade represents a 16.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 76,493 shares of company stock worth $5,235,225. Insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DOCU shares. Bank of America cut their price target on Docusign from $102.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Zacks Research cut shares of Docusign from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. BTIG Research dropped their target price on shares of Docusign from $88.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Citigroup reissued a “market outperform” rating on shares of Docusign in a research note on Monday, March 2nd. Finally, Wells Fargo & Company lowered their price target on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, December 5th. Five analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Docusign currently has an average rating of “Hold” and a consensus target price of $78.80.

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.