Wealthfront Advisers LLC Buys 7,788 Shares of DocuSign, Inc. (NASDAQ:DOCU)

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

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of DocuSign by 2.3% during the third quarter. State Street Corp now owns 5,372,939 shares of the company's stock valued at $333,604,000 after purchasing an additional 120,743 shares during the last quarter. Geode Capital Management LLC boosted its holdings in DocuSign by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company's stock worth $215,789,000 after acquiring an additional 53,554 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of DocuSign by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,277,312 shares of the company's stock worth $141,398,000 after acquiring an additional 112,919 shares during the last quarter. FMR LLC increased its holdings in shares of DocuSign by 16.8% during the third quarter. FMR LLC now owns 2,192,885 shares of the company's stock valued at $136,156,000 after acquiring an additional 315,073 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in DocuSign by 61.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company's stock worth $150,525,000 after buying an additional 637,505 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other DocuSign news, Director Peter Solvik sold 10,000 shares of the company's stock in a transaction on Friday, January 10th. The stock was 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 directly owns 150,253 shares in the company, valued at approximately $13,712,088.78. This represents a 6.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 15,588 shares of the firm's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total value of $1,524,194.64. Following the transaction, the chief financial officer now owns 85,851 shares in the company, valued at approximately $8,394,510.78. This represents a 15.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,888 shares of company stock valued at $8,856,718. 1.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on DOCU shares. Morgan Stanley increased their target price on DocuSign from $62.00 to $97.00 and gave the company an "equal weight" rating in a research note on Friday, December 6th. Citigroup increased their price objective on DocuSign from $113.00 to $115.00 and gave the company a "buy" rating in a research report on Friday. Piper Sandler lifted their price objective on DocuSign from $60.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a research note on Friday. Finally, Robert W. Baird lifted their price target on shares of DocuSign from $59.00 to $100.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $95.58.

DocuSign Price Performance

Shares of NASDAQ:DOCU traded down $0.91 during trading on Monday, hitting $84.85. The company had a trading volume of 2,444,049 shares, compared to its average volume of 2,402,332. The stock has a market cap of $17.14 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The company has a fifty day simple moving average of $87.97 and a two-hundred day simple moving average of $79.52. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (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 company had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same period last year, the company earned $0.76 earnings per share. DocuSign's revenue was up 9.0% on a year-over-year basis. On average, equities research analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current year.

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.