Sunbelt Securities Inc. Sells 165 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Sunbelt Securities Inc. lowered its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,247 shares of the company’s stock after selling 165 shares during the period. Sunbelt Securities Inc.’s holdings in DocuSign were worth $202,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new stake in DocuSign in the 3rd quarter worth $28,000. Brooklyn Investment Group purchased a new stake in shares of DocuSign during the third quarter worth about $33,000. Reston Wealth Management LLC bought a new stake in shares of DocuSign in the third quarter worth about $47,000. nVerses Capital LLC purchased a new position in DocuSign during the 2nd quarter valued at about $48,000. Finally, Quarry LP bought a new position in DocuSign during the 2nd quarter valued at approximately $53,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Transactions at DocuSign

In other news, Director Daniel D. Springer sold 581,588 shares of DocuSign stock in a transaction that occurred on 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 transaction, the director now owns 906,430 shares of the company’s stock, valued at $87,959,967.20. The trade was a 39.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Chatwani sold 14,799 shares of DocuSign stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total transaction of $820,752.54. Following the completion of the transaction, the insider now directly owns 70,748 shares in the company, valued at $3,923,684.08. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 651,184 shares of company stock valued at $60,878,829. 1.66% of the stock is currently owned by company insiders.

DocuSign Price Performance

Shares of NASDAQ DOCU opened at $94.48 on Friday. The company has a market cap of $19.09 billion, a P/E ratio of 19.48, a PEG ratio of 8.72 and a beta of 0.92. The firm has a 50-day simple moving average of $78.04 and a two-hundred day simple moving average of $63.38. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Citigroup lifted their price target on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a report on Friday, December 6th. JMP Securities boosted their price target on shares of DocuSign from $108.00 to $124.00 and gave the company a “market outperform” rating in a research report on Friday, December 6th. UBS Group increased their price target on shares of DocuSign from $60.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Bank of America lifted their price objective on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 target price (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.