Brighton Jones LLC Sells 1,712 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Brighton Jones LLC reduced its stake in DocuSign, Inc. (NASDAQ:DOCU) by 17.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,359 shares of the company’s stock after selling 1,712 shares during the quarter. Brighton Jones LLC’s holdings in DocuSign were worth $752,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Lifestyle Asset Management Inc. bought a new stake in shares of DocuSign during the 4th quarter worth $1,095,000. IVC Wealth Advisors LLC acquired a new position in DocuSign during the 4th quarter worth $225,000. Avior Wealth Management LLC boosted its holdings in DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after acquiring an additional 145 shares during the period. Janney Montgomery Scott LLC grew its position in shares of DocuSign by 34.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 38,805 shares of the company’s stock valued at $3,490,000 after purchasing an additional 9,859 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of DocuSign by 866.1% in the fourth quarter. SG Americas Securities LLC now owns 87,550 shares of the company’s stock worth $7,874,000 after purchasing an additional 78,488 shares during the period. Institutional investors own 77.64% of the company’s stock.

DocuSign Stock Up 1.2 %

Shares of DOCU opened at $91.60 on Friday. The company has a 50-day moving average price of $89.76 and a two-hundred day moving average price of $71.43. The stock has a market cap of $18.51 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of 8.30 and a beta of 0.88. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citigroup raised their target price on DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on shares of DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. JMP Securities reiterated a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Morgan Stanley boosted their price objective on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $92.45.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 15,588 shares of DocuSign stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total transaction of $1,524,194.64. Following the completion of the transaction, the chief financial officer now directly owns 85,851 shares of the company’s stock, valued at $8,394,510.78. This trade represents a 15.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 7,764 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $69.95, for a total transaction of $543,091.80. Following the completion of the transaction, the chief executive officer now owns 107,825 shares in the company, valued at approximately $7,542,358.75. This trade represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 693,537 shares of company stock worth $66,575,817 in the last 90 days. 1.66% of the stock is owned by company insiders.

About DocuSign

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.