Transcendent Capital Group LLC Cuts Stake in DocuSign, Inc. (NASDAQ:DOCU)

Transcendent Capital Group LLC lessened its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 13.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,516 shares of the company’s stock after selling 376 shares during the period. Transcendent Capital Group LLC’s holdings in DocuSign were worth $226,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. State Street Corp lifted its stake in DocuSign by 2.3% in the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock worth $333,604,000 after acquiring an additional 120,743 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after purchasing an additional 53,554 shares during the period. Thrivent Financial for Lutherans grew its position 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 buying an additional 112,919 shares during the last quarter. FMR LLC increased its stake 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 buying an additional 315,073 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in DocuSign by 14.4% during 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 worth $103,030,000 after buying an additional 208,813 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Trading Down 0.3 %

Shares of DOCU stock opened at $83.69 on Tuesday. The firm has a 50-day moving average price of $91.45 and a 200 day moving average price of $77.09. The company has a market capitalization of $16.91 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 6.94 and a beta of 0.89. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86.

Insider Transactions at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $94.60, for a total transaction of $50,516.40. Following the completion of the sale, the director now owns 7,736 shares of the company’s stock, valued at approximately $731,825.60. This represents a 6.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 7,763 shares of DocuSign stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.54, for a total transaction of $625,232.02. Following the transaction, the chief executive officer now directly owns 100,062 shares in the company, valued at approximately $8,058,993.48. This trade represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 693,773 shares of company stock worth $66,727,926 in the last three months. Company insiders own 1.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on DOCU. UBS Group lifted their target price on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price target (up from $57.00) on shares of DocuSign in a report on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, DocuSign currently has an average rating of “Hold” and a consensus price target of $92.45.

DocuSign Company Profile

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.