Assetmark Inc. Sells 44,815 Shares of Docusign Inc. $DOCU

Assetmark Inc. decreased its position in shares of Docusign Inc. (NASDAQ:DOCU) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 570,477 shares of the company’s stock after selling 44,815 shares during the quarter. Assetmark Inc. owned approximately 0.28% of Docusign worth $41,126,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. State Street Corp boosted its position in shares of Docusign by 3.0% during the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock valued at $628,960,000 after purchasing an additional 236,494 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Docusign by 1.6% in the second quarter. American Century Companies Inc. now owns 5,564,318 shares of the company’s stock valued at $433,405,000 after acquiring an additional 86,560 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Docusign by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 3,985,808 shares of the company’s stock worth $309,910,000 after purchasing an additional 59,941 shares during the period. Norges Bank purchased a new position in Docusign in the second quarter valued at about $140,987,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Docusign by 3.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,594,884 shares of the company’s stock worth $114,975,000 after purchasing an additional 47,331 shares during the period. Institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on DOCU shares. Wells Fargo & Company cut their price objective 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. Needham & Company LLC restated a “hold” rating on shares of Docusign in a research report on Wednesday, December 17th. Cantor Fitzgerald reiterated an “outperform” rating on shares of Docusign in a report on Wednesday, December 17th. Zacks Research lowered Docusign from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Bank of America decreased their target price on Docusign from $102.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Six research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $84.00.

Insider Buying and Selling

In other news, CFO Blake Jeffrey Grayson sold 6,500 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $70.00, for a total transaction of $455,000.00. Following the sale, the chief financial officer directly owned 111,713 shares of the company’s stock, valued at $7,819,910. This represents a 5.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Paula Hansen sold 6,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $67.05, for a total value of $402,300.00. Following the transaction, the executive owned 68,970 shares of the company’s stock, valued at $4,624,438.50. This represents a 8.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 78,292 shares of company stock valued at $5,374,260 in the last ninety days. Company insiders own 1.01% of the company’s stock.

Docusign Trading Up 2.5%

NASDAQ DOCU opened at $44.82 on Friday. The stock has a market cap of $8.98 billion, a PE ratio of 31.34, a P/E/G ratio of 1.91 and a beta of 1.00. Docusign Inc. has a 12 month low of $41.53 and a 12 month high of $94.67. The stock’s 50 day moving average is $61.01 and its 200 day moving average is $68.69.

Docusign 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.