Wellington Management Group LLP Has $2.08 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Wellington Management Group LLP cut its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 5.2% during the third quarter, HoldingsChannel.com reports. The firm owned 33,508 shares of the company’s stock after selling 1,839 shares during the period. Wellington Management Group LLP’s holdings in DocuSign were worth $2,081,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of DocuSign by 55.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,213 shares of the company’s stock worth $439,000 after acquiring an additional 2,925 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in DocuSign by 20.7% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 14,603 shares of the company’s stock worth $781,000 after purchasing an additional 2,507 shares during the last quarter. &PARTNERS purchased a new stake in shares of DocuSign during the 2nd quarter worth about $403,000. AMG National Trust Bank acquired a new stake in shares of DocuSign during the 2nd quarter valued at about $1,247,000. Finally, IMA Advisory Services Inc. bought a new stake in shares of DocuSign in the 2nd quarter valued at approximately $772,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Down 5.6 %

Shares of DOCU stock opened at $92.71 on Thursday. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The stock has a 50 day moving average of $79.83 and a 200-day moving average of $64.22. The firm has a market cap of $18.73 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 8.72 and a beta of 0.92.

Analyst Ratings Changes

Several brokerages recently weighed in on DOCU. UBS Group raised their price objective on shares of DocuSign from $60.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Piper Sandler lifted their price objective on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Jefferies Financial Group increased their target price on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Finally, Bank of America increased their price objective on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, DocuSign currently has a consensus rating of “Hold” and an average target price of $92.45.

Insider Buying and Selling at DocuSign

In related news, CEO Allan C. Thygesen sold 7,648 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total value of $477,770.56. Following the completion of the transaction, the chief executive officer now owns 115,589 shares of the company’s stock, valued at $7,220,844.83. This represents a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total value of $508,725.00. Following the completion of the transaction, the insider now directly owns 43,301 shares of the company’s stock, valued at approximately $2,937,106.83. The trade was a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 660,737 shares of company stock valued at $63,029,016 in the last ninety days. Company insiders own 1.66% of the company’s stock.

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.