QRG Capital Management Inc. Sells 40,006 Shares of Docusign Inc. $DOCU

QRG Capital Management Inc. lessened its holdings in Docusign Inc. (NASDAQ:DOCU) by 56.7% during the third quarter, HoldingsChannel.com reports. The fund owned 30,577 shares of the company’s stock after selling 40,006 shares during the period. QRG Capital Management Inc.’s holdings in Docusign were worth $2,204,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Twin Peaks Wealth Advisors LLC bought a new position in shares of Docusign in the second quarter worth about $43,000. SJS Investment Consulting Inc. increased its position in Docusign by 5,318.2% during the 3rd quarter. SJS Investment Consulting Inc. now owns 596 shares of the company’s stock worth $43,000 after purchasing an additional 585 shares in the last quarter. CX Institutional lifted its stake in Docusign by 5,860.0% in the 3rd quarter. CX Institutional now owns 596 shares of the company’s stock valued at $43,000 after purchasing an additional 586 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Docusign by 48.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 590 shares of the company’s stock valued at $46,000 after purchasing an additional 193 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its position in Docusign by 106.3% in the second quarter. Hantz Financial Services Inc. now owns 848 shares of the company’s stock valued at $66,000 after buying an additional 437 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity

In other news, insider Robert Chatwani sold 13,818 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $68.33, for a total value of $944,183.94. Following the transaction, the insider owned 70,197 shares in the company, valued at approximately $4,796,561.01. The trade was a 16.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allan C. Thygesen sold 26,250 shares of the company’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $69.60, for a total transaction of $1,827,000.00. Following the completion of the sale, the chief executive officer directly owned 142,261 shares in the company, valued at approximately $9,901,365.60. This represents a 15.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 78,292 shares of company stock worth $5,374,260. 1.66% of the stock is owned by insiders.

Docusign Price Performance

Docusign stock opened at $56.71 on Tuesday. The stock’s 50 day moving average is $67.31 and its 200 day moving average is $72.23. Docusign Inc. has a one year low of $56.63 and a one year high of $99.30. The firm has a market cap of $11.36 billion, a P/E ratio of 39.66, a P/E/G ratio of 2.79 and a beta of 0.99.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $124.00 price target on shares of Docusign in a report on Friday, October 3rd. Zacks Research cut Docusign from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Wedbush dropped their target price on Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Piper Sandler cut their price target on Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Finally, Evercore ISI lowered their price objective on Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a research note on Friday, December 5th. Six investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $85.13.

Docusign Company 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.