DocuSign, Inc. (NASDAQ:DOCU) Position Reduced by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its position in DocuSign, Inc. (NASDAQ:DOCU) by 96.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 128,328 shares of the company’s stock after selling 3,215,962 shares during the period. Pacer Advisors Inc. owned about 0.06% of DocuSign worth $11,542,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in DocuSign during the 3rd quarter worth approximately $28,000. Brooklyn Investment Group purchased a new position in shares of DocuSign during the third quarter valued at $33,000. Modus Advisors LLC acquired a new position in DocuSign during the fourth quarter valued at $36,000. Reston Wealth Management LLC purchased a new stake in DocuSign in the 3rd quarter worth about $47,000. Finally, Avior Wealth Management LLC boosted its position in DocuSign by 36.5% during the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after acquiring an additional 145 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Up 5.9 %

NASDAQ:DOCU opened at $97.70 on Wednesday. The company’s 50 day moving average is $90.04 and its 200-day moving average is $71.96. The firm has a market cap of $19.74 billion, a price-to-earnings ratio of 20.14, 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.

Insider Buying and Selling at DocuSign

In other 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 completion of the transaction, the director now directly owns 150,253 shares in the company, valued at $13,712,088.78. The trade was a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $94.60, for a total transaction of $50,516.40. Following the completion of the sale, the director now owns 7,736 shares in the company, valued at approximately $731,825.60. The trade was a 6.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 693,537 shares of company stock worth $66,575,817 over the last ninety days. Company insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DOCU. Robert W. Baird increased their price target on shares of DocuSign from $59.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company lifted their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Citigroup upped 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. JMP Securities reissued a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a research report on Tuesday, January 7th. Finally, Piper Sandler upped their target price on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $92.45.

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.