Commonwealth Equity Services LLC Has $5.48 Million Stake in DocuSign, Inc. (NASDAQ:DOCU)

Commonwealth Equity Services LLC lowered its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 17.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,901 shares of the company's stock after selling 13,314 shares during the quarter. Commonwealth Equity Services LLC's holdings in DocuSign were worth $5,477,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC bought a new position in shares of DocuSign during the fourth quarter worth about $30,000. First Horizon Advisors Inc. increased its position in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after purchasing an additional 201 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of DocuSign in the fourth quarter worth about $36,000. Itau Unibanco Holding S.A. acquired a new stake in shares of DocuSign in the third quarter valued at about $28,000. Finally, Avion Wealth lifted its stake in shares of DocuSign by 309.2% in the fourth quarter. Avion Wealth now owns 487 shares of the company's stock valued at $43,000 after buying an additional 368 shares during the period. Hedge funds and other institutional investors own 77.64% of the company's stock.

Wall Street Analysts Forecast Growth

DOCU has been the subject of a number of research reports. Needham & Company LLC reiterated a "hold" rating on shares of DocuSign in a research report on Friday, March 14th. Royal Bank of Canada reissued a "sector perform" rating and issued a $90.00 price objective on shares of DocuSign in a report on Friday, March 14th. JMP Securities reiterated a "market outperform" rating and issued a $124.00 price target on shares of DocuSign in a research note on Tuesday, January 7th. UBS Group cut their target price on shares of DocuSign from $100.00 to $90.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Finally, Bank of America dropped their price target on DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $95.00.

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DocuSign Stock Up 0.4 %

Shares of DOCU traded up $0.39 during trading hours on Tuesday, hitting $89.39. 1,917,715 shares of the company were exchanged, compared to its average volume of 2,626,729. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The company has a market cap of $18.10 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 6.94 and a beta of 1.02. The firm's fifty day moving average is $87.50 and its 200 day moving average is $80.91.

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

Insider Activity

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the transaction, the chief financial officer now directly owns 77,851 shares in the company, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the transaction, the chief executive officer now owns 156,050 shares of the company's stock, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,851 shares of company stock worth $8,579,369. 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.