Wealthfront Advisers LLC Raises Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Wealthfront Advisers LLC raised its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 200.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,666 shares of the company's stock after acquiring an additional 7,788 shares during the quarter. Wealthfront Advisers LLC's holdings in DocuSign were worth $1,049,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Citizens Financial Group Inc. RI boosted its stake in shares of DocuSign by 2.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock valued at $539,000 after buying an additional 133 shares during the period. Independent Advisor Alliance lifted its stake in DocuSign by 12.9% during the fourth quarter. Independent Advisor Alliance now owns 5,042 shares of the company's stock worth $453,000 after purchasing an additional 577 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in DocuSign by 24.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 19,270 shares of the company's stock worth $1,733,000 after purchasing an additional 3,737 shares during the last quarter. Moran Wealth Management LLC lifted its stake in DocuSign by 16.9% in the fourth quarter. Moran Wealth Management LLC now owns 14,816 shares of the company's stock valued at $1,333,000 after buying an additional 2,146 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in DocuSign by 45.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 190,358 shares of the company's stock valued at $17,121,000 after buying an additional 59,162 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

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DocuSign Price Performance

DOCU traded up $0.60 during trading on Wednesday, reaching $85.61. 2,860,550 shares of the stock were exchanged, compared to its average volume of 2,610,252. The business's 50 day moving average price is $87.75 and its two-hundred day moving average price is $79.87. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 6.94 and a beta of 1.02. 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 posted 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. The company had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 earnings per share. On average, analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current year.

Insiders Place Their Bets

In other news, Director Teresa Briggs sold 534 shares of the company's stock in a transaction on Monday, March 17th. The stock was 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. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Solvik sold 10,000 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the sale, the director now owns 150,253 shares in the company, valued at $13,712,088.78. This represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,034 shares of company stock worth $5,932,352. 1.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DOCU shares. Morgan Stanley boosted their price objective on DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a research note on Friday, December 6th. HSBC reiterated a "reduce" rating on shares of DocuSign in a research note on Friday, December 6th. William Blair upgraded DocuSign from a "market perform" rating to an "outperform" rating in a research note on Monday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 price objective on shares of DocuSign in a research note on Friday, March 14th. Finally, Hsbc Global Res raised DocuSign to a "moderate sell" rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $95.00.

DocuSign 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.