Orion Portfolio Solutions LLC Acquires New Position in DocuSign, Inc. (NASDAQ:DOCU)

Orion Portfolio Solutions LLC bought a new stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,930 shares of the company's stock, valued at approximately $1,073,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Citizens Financial Group Inc. RI boosted its position in DocuSign by 2.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock worth $539,000 after purchasing an additional 133 shares in the last quarter. Rakuten Securities Inc. lifted its position in shares of DocuSign by 20.9% in the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock valued at $72,000 after acquiring an additional 138 shares in the last quarter. Synergy Financial Group LTD lifted its position in shares of DocuSign by 3.4% in the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company's stock valued at $381,000 after acquiring an additional 140 shares in the last quarter. M&T Bank Corp lifted its position in DocuSign by 1.3% during the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company's stock worth $975,000 after buying an additional 143 shares during the period. Finally, Avior Wealth Management LLC lifted its position in DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock worth $49,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 77.64% of the company's stock.

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Wall Street Analysts Forecast Growth

DOCU has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded DocuSign from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Wedbush restated a "neutral" rating and set a $100.00 price target on shares of DocuSign in a research note on Friday, March 14th. Robert W. Baird set a $93.00 price target on DocuSign in a research note on Friday, March 14th. Jefferies Financial Group dropped their price target on DocuSign from $115.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, UBS Group lowered their target price on DocuSign from $100.00 to $90.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, DocuSign has a consensus rating of "Hold" and an average target price of $95.83.

DocuSign Trading Down 5.4 %

NASDAQ:DOCU traded down $4.23 during mid-day trading on Thursday, hitting $74.36. The stock had a trading volume of 276,401 shares, compared to its average volume of 2,469,353. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 6.94 and a beta of 1.20. The company has a 50 day simple moving average of $83.86 and a 200-day simple moving average of $82.56. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same period last year, the firm posted $0.76 EPS. DocuSign's quarterly revenue was up 9.0% compared to the same quarter last year. As a group, equities research analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Insider Transactions at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the transaction, the chief financial officer now directly owns 77,851 shares of the company's stock, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total transaction of $609,825.00. Following the completion of the transaction, the insider now directly owns 45,875 shares in the company, valued at approximately $3,730,096.25. This trade represents a 14.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,851 shares of company stock valued at $4,911,319 in the last quarter. Insiders own 1.66% of the company's stock.

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.