Burney Co. Sells 9,440 Shares of Docusign Inc. $DOCU

Burney Co. lowered its position in shares of Docusign Inc. (NASDAQ:DOCU) by 7.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,825 shares of the company’s stock after selling 9,440 shares during the period. Burney Co.’s holdings in Docusign were worth $8,782,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. State Street Corp raised its holdings in shares of Docusign by 3.0% during the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock valued at $628,960,000 after buying an additional 236,494 shares in the last quarter. American Century Companies Inc. grew its position in Docusign by 1.6% during the second quarter. American Century Companies Inc. now owns 5,564,318 shares of the company’s stock valued at $433,405,000 after acquiring an additional 86,560 shares during the last quarter. Geode Capital Management LLC grew its position in Docusign by 1.5% during the second quarter. Geode Capital Management LLC now owns 3,985,808 shares of the company’s stock valued at $309,910,000 after acquiring an additional 59,941 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Docusign by 18.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,028,505 shares of the company’s stock worth $165,120,000 after acquiring an additional 318,698 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Docusign in the 2nd quarter worth approximately $140,987,000. 77.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DOCU has been the topic of several recent research reports. Wall Street Zen raised shares of Docusign from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Docusign in a research note on Wednesday, October 8th. Piper Sandler decreased their price objective on Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Royal Bank Of Canada restated a “sector perform” rating and set a $95.00 target price on shares of Docusign in a report on Friday, December 5th. Finally, Wells Fargo & Company reduced their price target on Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, December 5th. Six investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $86.80.

Docusign Price Performance

NASDAQ DOCU opened at $69.97 on Friday. Docusign Inc. has a 1 year low of $63.41 and a 1 year high of $99.30. The stock has a market capitalization of $14.01 billion, a PE ratio of 48.93, a PEG ratio of 3.50 and a beta of 0.98. The business’s 50-day moving average is $69.12 and its 200 day moving average is $73.46.

Insider Transactions at Docusign

In related news, CFO Blake Jeffrey Grayson sold 9,515 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total value of $650,159.95. Following the completion of the sale, the chief financial officer owned 118,213 shares of the company’s stock, valued at $8,077,494.29. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James A. Beer sold 450 shares of Docusign stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $68.54, for a total transaction of $30,843.00. Following the completion of the sale, the director owned 14,478 shares in the company, valued at approximately $992,322.12. This trade represents a 3.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 87,542 shares of company stock worth $6,097,905. Corporate insiders own 1.01% of the company’s stock.

Docusign Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.