DocuSign, Inc. (NASDAQ:DOCU) Stock Holdings Cut by Canton Hathaway LLC

Canton Hathaway LLC reduced its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 87.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,500 shares of the company’s stock after selling 16,705 shares during the period. Canton Hathaway LLC’s holdings in DocuSign were worth $225,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund boosted its stake in DocuSign by 103.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 106,695 shares of the company’s stock valued at $9,596,000 after purchasing an additional 54,251 shares in the last quarter. Amalgamated Bank boosted its stake in DocuSign by 633.8% during the 4th quarter. Amalgamated Bank now owns 99,516 shares of the company’s stock valued at $8,950,000 after purchasing an additional 85,954 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of DocuSign by 61.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock worth $150,525,000 after acquiring an additional 637,505 shares in the last quarter. Synergy Financial Group LTD boosted its stake in shares of DocuSign by 3.4% during the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock worth $381,000 after acquiring an additional 140 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of DocuSign by 249.3% during the 4th quarter. IFP Advisors Inc now owns 2,798 shares of the company’s stock worth $252,000 after acquiring an additional 1,997 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

DocuSign Trading Down 0.3 %

Shares of NASDAQ:DOCU opened at $83.69 on Tuesday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The business has a fifty day simple moving average of $91.45 and a 200 day simple moving average of $77.09. The firm has a market cap of $16.91 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 6.94 and a beta of 0.89.

Analyst Ratings Changes

Several research firms have recently weighed in on DOCU. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research note on Tuesday, February 4th. Citigroup raised their price objective on DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. JMP Securities reissued a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research note on Tuesday, January 7th. Morgan Stanley raised their price objective on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Finally, HSBC reissued a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Three investment 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $92.45.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 7,763 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.54, for a total transaction of $625,232.02. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $94.60, for a total value of $50,516.40. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 693,773 shares of company stock worth $66,727,926. Corporate insiders own 1.66% of the company’s stock.

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.