DocuSign, Inc. (NASDAQ:DOCU) Stock Position Lifted by LPL Financial LLC

LPL Financial LLC increased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,927 shares of the company's stock after purchasing an additional 23,181 shares during the quarter. LPL Financial LLC owned approximately 0.10% of DocuSign worth $18,881,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in DOCU. Itau Unibanco Holding S.A. purchased a new position in shares of DocuSign during the 3rd quarter worth $28,000. Kestra Investment Management LLC acquired a new position in DocuSign in the fourth quarter valued at $30,000. Modus Advisors LLC purchased a new position in DocuSign during the fourth quarter worth about $36,000. First Horizon Advisors Inc. boosted its stake 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 buying an additional 201 shares during the last quarter. Finally, Avion Wealth grew its holdings in DocuSign by 309.2% in the 4th 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. Institutional investors and hedge funds own 77.64% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group cut their price objective on shares of DocuSign from $100.00 to $90.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. JPMorgan Chase & Co. raised shares of DocuSign from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. Jefferies Financial Group decreased their price target on shares of DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Wedbush restated a "neutral" rating and set a $100.00 price objective on shares of DocuSign in a report on Friday, March 14th. Finally, Wells Fargo & Company increased their target price on DocuSign from $70.00 to $73.00 and gave the stock an "underweight" rating in a research report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, DocuSign presently has a consensus rating of "Hold" and a consensus price target of $95.83.

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DocuSign Price Performance

NASDAQ DOCU traded down $5.16 on Friday, reaching $72.21. The company had a trading volume of 2,881,620 shares, compared to its average volume of 2,700,521. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The firm has a 50-day moving average of $86.02 and a 200-day moving average of $82.17. The firm has a market capitalization of $14.62 billion, a PE ratio of 14.89, a P/E/G ratio of 6.94 and a beta of 1.20.

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

Insider Transactions at DocuSign

In other DocuSign news, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the sale, the director now directly owns 150,253 shares in the company, valued at $13,712,088.78. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the transaction, the director now owns 8,270 shares of the company's stock, valued at approximately $722,880.70. This trade represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,851 shares of company stock valued at $4,911,319. 1.66% of the stock is currently owned by insiders.

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.