Ridgewood Investments LLC Has $438,000 Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Ridgewood Investments LLC lessened its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 23.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,873 shares of the company’s stock after selling 1,512 shares during the period. Ridgewood Investments LLC’s holdings in DocuSign were worth $438,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Modus Advisors LLC acquired a new position in shares of DocuSign during the 4th quarter worth about $36,000. Itau Unibanco Holding S.A. bought a new position in DocuSign during the third quarter valued at about $28,000. Brooklyn Investment Group bought a new position in DocuSign during the third quarter valued at about $33,000. Reston Wealth Management LLC bought a new position in DocuSign during the third quarter valued at about $47,000. Finally, GAMMA Investing LLC increased its stake in DocuSign by 311.8% during the fourth quarter. GAMMA Investing LLC now owns 803 shares of the company’s stock valued at $72,000 after acquiring an additional 608 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Up 2.2 %

NASDAQ:DOCU traded up $1.98 during trading hours on Friday, hitting $91.49. 1,192,624 shares of the stock were exchanged, compared to its average volume of 1,800,652. The company’s 50 day moving average is $86.80 and its two-hundred day moving average is $68.58. DocuSign, Inc. has a twelve month low of $48.70 and a twelve month high of $107.86. The company has a market capitalization of $18.48 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 8.72 and a beta of 0.88.

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 9,552 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $68.80, for a total value of $657,177.60. Following the completion of the sale, the chief financial officer now owns 78,265 shares in the company, valued at $5,384,632. This represents a 10.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Chatwani sold 14,800 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the completion of the sale, the insider now owns 73,414 shares of the company’s stock, valued at approximately $7,176,952.64. This represents a 16.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 693,089 shares of company stock valued at $66,320,395. 1.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

DOCU has been the topic of several research reports. Wells Fargo & Company boosted their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Robert W. Baird upped their price objective on DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price objective (up from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Morgan Stanley increased their price target on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Finally, Jefferies Financial Group increased their price target on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and an average target price of $92.45.

DocuSign Company 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.