Harmony Asset Management LLC Sells 15,580 Shares of Docusign Inc. $DOCU

Harmony Asset Management LLC trimmed its stake in shares of Docusign Inc. (NASDAQ:DOCU) by 62.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,439 shares of the company’s stock after selling 15,580 shares during the period. Harmony Asset Management LLC’s holdings in Docusign were worth $680,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in Docusign by 3.6% in the third quarter. Nordea Investment Management AB now owns 1,154,824 shares of the company’s stock valued at $87,316,000 after acquiring an additional 40,432 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Docusign by 927.2% in the second quarter. Baird Financial Group Inc. now owns 124,145 shares of the company’s stock valued at $9,670,000 after acquiring an additional 112,059 shares in the last quarter. Rakuten Investment Management Inc. purchased a new stake in Docusign during the 3rd quarter worth about $5,335,000. Vise Technologies Inc. acquired a new stake in Docusign in the 2nd quarter valued at about $436,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Docusign by 3.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,594,884 shares of the company’s stock valued at $114,975,000 after buying an additional 47,331 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling at Docusign

In other news, insider Robert Chatwani sold 13,818 shares of Docusign stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $68.33, for a total transaction of $944,183.94. Following the completion of the sale, the insider directly owned 70,197 shares in the company, valued at $4,796,561.01. The trade was a 16.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $67.05, for a total transaction of $402,300.00. Following the completion of the transaction, the executive directly owned 68,970 shares of the company’s stock, valued at approximately $4,624,438.50. This represents a 8.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 78,292 shares of company stock worth $5,374,260. 1.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DOCU shares. BTIG Research started coverage on shares of Docusign in a research note on Tuesday, December 16th. They issued a “buy” rating and a $88.00 price target for the company. Cantor Fitzgerald restated an “outperform” rating on shares of Docusign in a research note on Wednesday, December 17th. Piper Sandler decreased their target price on Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Wells Fargo & Company cut their price target on Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, December 5th. Finally, JPMorgan Chase & Co. decreased their price objective on Docusign from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Six research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, Docusign currently has an average rating of “Hold” and a consensus price target of $85.13.

Docusign Stock Up 1.5%

NASDAQ:DOCU opened at $46.75 on Thursday. The company has a market capitalization of $9.36 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00. Docusign Inc. has a 52-week low of $45.00 and a 52-week high of $99.30. The stock has a fifty day simple moving average of $64.25 and a 200-day simple moving average of $70.31.

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.