Ceera Investments LLC trimmed its position in Docusign Inc. (NASDAQ:DOCU – Free Report) by 16.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,662 shares of the company’s stock after selling 11,147 shares during the period. Docusign accounts for 1.2% of Ceera Investments LLC’s portfolio, making the stock its 28th biggest position. Ceera Investments LLC’s holdings in Docusign were worth $2,686,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new stake in shares of Docusign during the 4th quarter valued at $25,000. Modus Advisors LLC bought a new position in shares of Docusign in the 4th quarter worth about $27,000. Torren Management LLC bought a new position in shares of Docusign in the 4th quarter worth about $28,000. Aventura Private Wealth LLC purchased a new position in Docusign during the 4th quarter valued at about $30,000. Finally, True Wealth Design LLC lifted its position in Docusign by 105.2% during the 4th quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after acquiring an additional 222 shares during the period. Institutional investors own 77.64% of the company’s stock.
Docusign Stock Down 1.2%
Shares of NASDAQ DOCU opened at $52.74 on Friday. The firm has a market cap of $10.07 billion, a P/E ratio of 34.25, a PEG ratio of 1.57 and a beta of 0.90. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $86.65. The company has a 50 day moving average of $47.44 and a 200 day moving average of $49.53.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on DOCU shares. Bank of America began coverage on shares of Docusign in a report on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 price objective on the stock. BTIG Research lowered their target price on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, June 5th. Wedbush dropped their price target on Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Wells Fargo & Company dropped their price target on Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, June 5th. Finally, Wall Street Zen downgraded Docusign from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Docusign presently has an average rating of “Hold” and a consensus target price of $60.27.
Check Out Our Latest Stock Analysis on Docusign
Insider Activity at Docusign
In other Docusign news, CRO Paula Hansen sold 6,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $273,240.00. Following the transaction, the executive owned 89,972 shares in the company, valued at approximately $4,097,324.88. This represents a 6.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $546,480.00. Following the transaction, the insider owned 52,815 shares in the company, valued at $2,405,195.10. This represents a 18.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 76,695 shares of company stock valued at $3,476,002 over the last three months. 0.59% of the stock is owned by 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.
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