First Trust Advisors LP Grows Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

First Trust Advisors LP lifted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 31.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,324,689 shares of the company's stock after acquiring an additional 319,956 shares during the quarter. First Trust Advisors LP owned approximately 0.66% of DocuSign worth $119,142,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DOCU. Kestra Investment Management LLC bought a new stake in DocuSign during the 4th quarter valued at $30,000. Modus Advisors LLC purchased a new position in shares of DocuSign during the fourth quarter valued at $36,000. First Horizon Advisors Inc. raised its holdings in shares of DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after acquiring an additional 201 shares in the last quarter. Bessemer Group Inc. lifted its stake in DocuSign by 490.0% in the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company's stock worth $42,000 after acquiring an additional 392 shares during the period. Finally, Avion Wealth grew its holdings in DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after acquiring an additional 368 shares in the last quarter. Institutional investors own 77.64% of the company's stock.

Insider Transactions at DocuSign

In other news, insider Robert Chatwani sold 15,706 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the sale, the insider now owns 76,842 shares of the company's stock, valued at $6,392,485.98. This trade represents a 16.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were 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. This represents a 14.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,851 shares of company stock worth $4,607,439 over the last 90 days. 1.66% of the stock is currently owned by company insiders.

DocuSign Price Performance

Shares of DOCU stock opened at $75.42 on Monday. The business has a fifty day moving average of $81.35 and a 200 day moving average of $83.38. The firm has a market capitalization of $15.27 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

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

Wall Street Analysts Forecast Growth

DOCU has been the subject of several research reports. UBS Group lowered their price target on shares of DocuSign from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday. JPMorgan Chase & Co. raised DocuSign from an "underweight" rating to a "neutral" rating and increased their target price for the company from $70.00 to $75.00 in a research report on Monday, March 10th. Robert W. Baird set a $93.00 price target on DocuSign in a report on Friday, March 14th. William Blair upgraded DocuSign from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Finally, Wells Fargo & Company lifted their target price on DocuSign from $70.00 to $73.00 and gave the company an "underweight" rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $93.08.

About DocuSign

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.

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