WINTON GROUP Ltd Sells 48,220 Shares of Docusign Inc. $DOCU

Key Points

• WINTON GROUP Ltd reduced its Docusign stake by 70.7%, selling 48,220 shares in Q3 and ending the period with 19,964 shares valued at about $1.44 million.
• Insiders have been net sellers (77,476 shares sold in the last quarter, insiders now own 1.66%), while large institutions like Vanguard and State Street increased holdings, leaving institutional ownership at roughly 77.6%.
• Analyst sentiment has weakened with multiple downgrades and price-target cuts; DOCU has a consensus "Hold" rating and an average price target of $78.80, while the stock trades near $48.64 with a market cap around $9.7 billion.

WINTON GROUP Ltd lessened its holdings in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 70.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,964 shares of the company's stock after selling 48,220 shares during the period. WINTON GROUP Ltd's holdings in Docusign were worth $1,439,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DOCU. Vanguard Group Inc. boosted its stake in shares of Docusign by 1.1% in the third quarter. Vanguard Group Inc. now owns 21,625,551 shares of the company's stock valued at $1,558,986,000 after buying an additional 225,525 shares during the period. State Street Corp grew its position in Docusign by 3.0% during the second quarter. State Street Corp now owns 8,074,976 shares of the company's stock worth $628,960,000 after buying an additional 236,494 shares in the last quarter. American Century Companies Inc. increased its stake in Docusign by 1.6% during the 2nd quarter. American Century Companies Inc. now owns 5,564,318 shares of the company's stock worth $433,405,000 after acquiring an additional 86,560 shares during the period. Geode Capital Management LLC increased its stake in Docusign by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 3,985,808 shares of the company's stock worth $309,910,000 after acquiring an additional 59,941 shares during the period. Finally, Norges Bank acquired a new position in Docusign in the 2nd quarter valued at $140,987,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of recent analyst reports. Bank of America decreased their price target on Docusign from $102.00 to $82.00 and set a "neutral" rating on the stock in a research report on Friday, December 5th. Needham & Company LLC reissued a "hold" rating on shares of Docusign in a report on Tuesday. Jefferies Financial Group downgraded shares of Docusign from a "buy" rating to a "hold" rating and cut their price target for the stock from $105.00 to $45.00 in a report on Monday, February 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Docusign in a research note on Wednesday, January 21st. Finally, Piper Sandler lowered their price objective on shares of Docusign from $90.00 to $75.00 and set a "neutral" rating for the company in a research report on Friday, December 5th. Five equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $78.80.

Docusign Trading Down 0.1%

Shares of Docusign stock opened at $48.64 on Wednesday. The firm's 50 day moving average is $53.01 and its 200 day moving average is $65.43. The firm has a market capitalization of $9.74 billion, a PE ratio of 34.01, a price-to-earnings-growth ratio of 2.12 and a beta of 1.03. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $94.67.

Insider Activity

In other news, insider James P. Shaughnessy sold 12,000 shares of the company's stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $67.03, for a total transaction of $804,360.00. Following the completion of the transaction, the insider directly owned 54,550 shares in the company, valued at approximately $3,656,486.50. This represents a 18.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Chatwani sold 13,818 shares of the stock in a transaction on Wednesday, December 17th. The shares were 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 77,476 shares of company stock valued at $5,302,678. 1.66% of the stock is currently owned by insiders.

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.

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