Docusign Inc. $DOCU Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in Docusign Inc. (NASDAQ:DOCU) by 34.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,351,714 shares of the company’s stock after selling 724,130 shares during the quarter. Thrivent Financial for Lutherans owned about 0.67% of Docusign worth $97,445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Centaurus Financial Inc. lifted its position in Docusign by 2.6% in the second quarter. Centaurus Financial Inc. now owns 5,398 shares of the company’s stock valued at $420,000 after acquiring an additional 136 shares during the last quarter. Total Wealth Planning & Management Inc. increased its position in shares of Docusign by 4.8% during the second quarter. Total Wealth Planning & Management Inc. now owns 3,170 shares of the company’s stock worth $247,000 after purchasing an additional 146 shares in the last quarter. Mitchell & Pahl Private Wealth LLC lifted its holdings in shares of Docusign by 0.7% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 21,422 shares of the company’s stock valued at $1,544,000 after purchasing an additional 149 shares during the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Docusign by 5.7% in the 2nd quarter. Moors & Cabot Inc. now owns 2,780 shares of the company’s stock valued at $217,000 after purchasing an additional 150 shares during the last quarter. Finally, Savvy Advisors Inc. boosted its position in shares of Docusign by 5.4% in the 2nd quarter. Savvy Advisors Inc. now owns 3,090 shares of the company’s stock valued at $241,000 after purchasing an additional 157 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Stock Down 2.3%

Shares of Docusign stock opened at $52.54 on Friday. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 36.74, a price-to-earnings-growth ratio of 2.64 and a beta of 0.99. Docusign Inc. has a 52-week low of $51.90 and a 52-week high of $99.30. The company’s 50-day simple moving average is $65.41 and its 200-day simple moving average is $70.93.

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 6,500 shares of Docusign stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $70.00, for a total value of $455,000.00. Following the sale, the chief financial officer directly owned 111,713 shares in the company, valued at $7,819,910. The trade was a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Chatwani sold 13,818 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total value of $944,183.94. Following the completion of the transaction, the insider owned 70,197 shares of the company’s stock, valued at $4,796,561.01. The trade was a 16.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 78,292 shares of company stock worth $5,374,260. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on DOCU shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Docusign in a research report on Wednesday, January 21st. Robert W. Baird cut their target price on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Wedbush decreased their price target on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Cantor Fitzgerald reissued an “outperform” rating on shares of Docusign in a research report on Wednesday, December 17th. Finally, Evercore ISI reduced their target price on shares of Docusign from $92.00 to $80.00 and set an “in-line” rating for the company in a report on Friday, December 5th. Six investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $85.13.

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.