427,499 Shares in DocuSign, Inc. (NASDAQ:DOCU) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 427,499 shares of the company's stock, valued at approximately $38,449,000. Raymond James Financial Inc. owned about 0.21% of DocuSign as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DOCU. Kestra Investment Management LLC purchased a new stake in DocuSign during the fourth quarter valued at approximately $30,000. Modus Advisors LLC bought a new stake in shares of DocuSign during the 4th quarter valued at $36,000. First Horizon Advisors Inc. increased its stake in shares of 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 in the last quarter. Avion Wealth raised its holdings in DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after purchasing an additional 368 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 valued at $49,000 after purchasing an additional 145 shares in the last quarter. Institutional investors own 77.64% of the company's stock.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of analyst reports. Wedbush restated a "neutral" rating and issued a $100.00 price target on shares of DocuSign in a research report on Friday, March 14th. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a report on Thursday. Morgan Stanley decreased their target price on shares of DocuSign from $97.00 to $92.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Robert W. Baird set a $93.00 price target on shares of DocuSign in a research report on Friday, March 14th. Finally, Citigroup raised their price objective on shares of DocuSign from $113.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, DocuSign has a consensus rating of "Hold" and a consensus target price of $93.08.

Insider Activity at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the sale, the director now directly owns 8,270 shares in the company, valued at $722,880.70. The trade was a 6.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total transaction of $608,720.00. Following the completion of the transaction, the chief financial officer now directly owns 86,156 shares of the company's stock, valued at approximately $6,555,610.04. The trade was a 8.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,851 shares of company stock valued at $4,607,439 over the last 90 days. 1.66% of the stock is owned by corporate insiders.

DocuSign Price Performance

Shares of DOCU stock traded down $3.23 during trading hours on Monday, hitting $72.20. The stock had a trading volume of 151,299 shares, compared to its average volume of 2,730,120. The stock's 50-day moving average price is $81.35 and its two-hundred day moving average price is $83.38. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 6.94 and a beta of 1.20.

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

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.