DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Westbourne Investment Advisors Inc.

Westbourne Investment Advisors Inc. lessened its stake in DocuSign, Inc. (NASDAQ:DOCU) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 45,835 shares of the company’s stock after selling 3,455 shares during the period. DocuSign makes up 1.4% of Westbourne Investment Advisors Inc.’s portfolio, making the stock its 26th largest position. Westbourne Investment Advisors Inc.’s holdings in DocuSign were worth $4,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in DOCU. State Street Corp boosted its holdings in DocuSign by 2.3% in the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after purchasing an additional 120,743 shares in the last quarter. Geode Capital Management LLC boosted its holdings in DocuSign by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after purchasing an additional 53,554 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in DocuSign by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company’s stock valued at $141,398,000 after purchasing an additional 112,919 shares in the last quarter. FMR LLC boosted its holdings in DocuSign by 16.8% in the 3rd quarter. FMR LLC now owns 2,192,885 shares of the company’s stock valued at $136,156,000 after purchasing an additional 315,073 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in DocuSign by 14.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,367 shares of the company’s stock valued at $103,030,000 after purchasing an additional 208,813 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Down 3.6 %

DOCU stock opened at $90.48 on Friday. The company has a market cap of $18.28 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 8.74 and a beta of 0.89. The business has a fifty day simple moving average of $92.36 and a 200-day simple moving average of $73.96. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Jefferies Financial Group boosted their price target on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Citigroup upped their target price on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Wells Fargo & Company upped their target price on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a report on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, DocuSign has a consensus rating of “Hold” and a consensus target price of $92.45.

Insider Activity at DocuSign

In other DocuSign news, Director Daniel D. Springer sold 581,588 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the transaction, the director now directly owns 906,430 shares of the company’s stock, valued at $87,959,967.20. This represents a 39.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the transaction, the chief executive officer now directly owns 100,062 shares of the company’s stock, valued at approximately $8,058,993.48. The trade was a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 685,773 shares of company stock worth $66,032,726. Corporate insiders own 1.66% of the company’s stock.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.