Stifel Financial Corp Cuts Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Stifel Financial Corp trimmed its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 1.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 79,112 shares of the company’s stock after selling 1,343 shares during the period. Stifel Financial Corp’s holdings in DocuSign were worth $4,912,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in DocuSign by 55.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,213 shares of the company’s stock valued at $439,000 after purchasing an additional 2,925 shares in the last quarter. Dakota Wealth Management lifted its stake in DocuSign by 0.8% in the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock valued at $1,232,000 after buying an additional 181 shares in the last quarter. Atria Wealth Solutions Inc. boosted its holdings in DocuSign by 20.7% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 14,603 shares of the company’s stock worth $781,000 after buying an additional 2,507 shares during the last quarter. Oak Family Advisors LLC increased its stake in DocuSign by 51.5% during the 2nd quarter. Oak Family Advisors LLC now owns 95,495 shares of the company’s stock worth $5,109,000 after buying an additional 32,472 shares in the last quarter. Finally, &PARTNERS acquired a new position in shares of DocuSign during the second quarter valued at approximately $403,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 14,036 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $55.47, for a total transaction of $778,576.92. Following the completion of the transaction, the chief financial officer now owns 87,611 shares of the company’s stock, valued at approximately $4,859,782.17. This trade represents a 13.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel D. Springer sold 581,588 shares of the business’s 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 completion of the sale, the director now directly owns 906,430 shares in the company, valued at approximately $87,959,967.20. The trade was a 39.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 650,650 shares of company stock valued at $60,848,626 over the last quarter. 1.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DOCU. Robert W. Baird lifted their price target on DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, December 6th. Wells Fargo & Company increased their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Citigroup raised their price target on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $92.45.

DocuSign Price Performance

Shares of NASDAQ DOCU opened at $94.48 on Monday. The company has a market capitalization of $19.09 billion, a P/E ratio of 19.48, a P/E/G ratio of 8.72 and a beta of 0.92. The company has a 50 day simple moving average of $78.04 and a 200-day simple moving average of $63.41. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

DocuSign 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.