Global Trust Asset Management LLC Sells 1,900 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Global Trust Asset Management LLC reduced its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 63.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,088 shares of the company’s stock after selling 1,900 shares during the quarter. Global Trust Asset Management LLC’s holdings in DocuSign were worth $65,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. WINTON GROUP Ltd acquired a new position in DocuSign during the 3rd quarter valued at $201,000. Invesco Ltd. raised its stake in DocuSign by 6.4% during the 3rd quarter. Invesco Ltd. now owns 446,789 shares of the company’s stock valued at $18,765,000 after purchasing an additional 26,721 shares during the last quarter. Acadian Asset Management LLC raised its stake in DocuSign by 911.4% during the 3rd quarter. Acadian Asset Management LLC now owns 56,923 shares of the company’s stock valued at $2,386,000 after purchasing an additional 51,295 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in DocuSign during the 3rd quarter valued at $931,000. Finally, LPL Financial LLC raised its stake in DocuSign by 2.1% during the 3rd quarter. LPL Financial LLC now owns 211,200 shares of the company’s stock valued at $8,870,000 after purchasing an additional 4,262 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DOCU has been the subject of several research analyst reports. JMP Securities reiterated a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a research note on Friday, June 7th. Citigroup dropped their price objective on shares of DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Robert W. Baird dropped their price objective on shares of DocuSign from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Royal Bank of Canada dropped their price objective on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a research note on Friday, June 7th. Finally, Morgan Stanley dropped their price objective on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, DocuSign presently has an average rating of “Hold” and a consensus target price of $59.36.

DocuSign Stock Down 2.0 %

Shares of NASDAQ:DOCU opened at $51.69 on Tuesday. DocuSign, Inc. has a 12 month low of $38.11 and a 12 month high of $64.76. The company’s 50-day moving average price is $56.04 and its two-hundred day moving average price is $56.82. The firm has a market cap of $10.58 billion, a P/E ratio of 99.41, a P/E/G ratio of 4.41 and a beta of 0.89.

Insiders Place Their Bets

In other DocuSign news, Director Teresa Briggs sold 499 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $54.92, for a total transaction of $27,405.08. Following the sale, the director now owns 6,668 shares of the company’s stock, valued at approximately $366,206.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Teresa Briggs sold 499 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $54.92, for a total value of $27,405.08. Following the transaction, the director now owns 6,668 shares of the company’s stock, valued at approximately $366,206.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Solvik sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. Following the completion of the transaction, the director now directly owns 783 shares in the company, valued at approximately $46,980. The disclosure for this sale can be found here. Insiders have sold a total of 91,107 shares of company stock valued at $4,861,484 in the last 90 days. 1.66% of the stock is currently owned by 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.