Envestnet Portfolio Solutions Inc. Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Envestnet Portfolio Solutions Inc. acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,334 shares of the company's stock, valued at approximately $300,000.

Several other hedge funds also recently modified their holdings of the stock. 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 valued at $539,000 after purchasing an additional 133 shares during the last quarter. Rakuten Securities Inc. raised its stake in shares of DocuSign by 20.9% during the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock worth $72,000 after purchasing an additional 138 shares in the last quarter. Synergy Financial Group LTD boosted its holdings in shares of DocuSign by 3.4% in the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company's stock valued at $381,000 after buying an additional 140 shares during the last quarter. M&T Bank Corp grew its stake in shares of DocuSign by 1.3% in the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company's stock valued at $975,000 after buying an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC increased its holdings 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 last quarter. Institutional investors own 77.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on DOCU. Citigroup upped their price objective on shares of DocuSign from $113.00 to $115.00 and gave the company a "buy" rating in a report on Friday, March 14th. Bank of America lowered their price target on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Wells Fargo & Company raised their price objective on shares of DocuSign from $70.00 to $73.00 and gave the stock an "underweight" rating in a research report on Friday, March 14th. Robert W. Baird set a $93.00 target price on DocuSign in a research report on Friday, March 14th. Finally, HSBC reiterated a "reduce" rating on shares of DocuSign in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $95.83.

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Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 16,111 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the completion of the transaction, the chief financial officer now owns 93,960 shares of the company's stock, valued at approximately $7,817,472. The trade was a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was 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 directly owns 156,050 shares of the company's stock, valued at $14,050,742. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,851 shares of company stock worth $8,579,369 over the last three months. Insiders own 1.66% of the company's stock.

DocuSign Price Performance

DOCU stock traded down $1.78 during midday trading on Monday, reaching $81.40. The company had a trading volume of 2,661,102 shares, compared to its average volume of 2,689,182. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The stock has a 50 day moving average price of $87.01 and a 200-day moving average price of $81.71. The company has a market capitalization of $16.48 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

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

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.