Thurston Springer Miller Herd & Titak Inc. Sells 151 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Thurston Springer Miller Herd & Titak Inc. lessened its stake in DocuSign, Inc. (NASDAQ:DOCU) by 8.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,570 shares of the company’s stock after selling 151 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in DocuSign were worth $141,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. State Street Corp increased 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 valued at $333,604,000 after acquiring an additional 120,743 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after purchasing an additional 1,541,816 shares in the last quarter. Geode Capital Management LLC increased its position in shares of DocuSign by 1.6% during 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 during the last quarter. Clearbridge Investments LLC raised its holdings in shares of DocuSign by 4.1% during the 2nd quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company’s stock valued at $156,265,000 after buying an additional 115,616 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted 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 worth $141,398,000 after buying an additional 112,919 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

NASDAQ DOCU opened at $91.16 on Friday. The stock has a market cap of $18.42 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 8.17 and a beta of 0.88. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The stock has a 50 day simple moving average of $88.26 and a two-hundred day simple moving average of $69.77.

Analysts Set New Price Targets

DOCU has been the topic of several research reports. Citigroup lifted 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. Morgan Stanley lifted their target price on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” 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 research note on Friday, December 6th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC reissued a “hold” 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 given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, DocuSign currently has a consensus rating of “Hold” and an average target price of $92.45.

Insider Activity at DocuSign

In other DocuSign news, Director Peter Solvik sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the transaction, the director now owns 150,253 shares in the company, valued at approximately $13,712,088.78. This represents a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 7,764 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the completion of the transaction, the chief executive officer now owns 107,825 shares of the company’s stock, valued at approximately $7,542,358.75. The trade was a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 693,537 shares of company stock worth $66,575,817 over the last quarter. 1.66% of the stock is owned by corporate insiders.

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.