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

Wealthfront Advisers LLC raised its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 200.8% during the fourth quarter, according to the company in its most recent disclosure 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 period. Wealthfront Advisers LLC's holdings in DocuSign were worth $1,049,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DOCU. Kestra Investment Management LLC acquired a new stake in shares of DocuSign during the fourth quarter worth $30,000. First Horizon Advisors Inc. increased 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 purchasing an additional 201 shares during the period. Modus Advisors LLC purchased a new stake in DocuSign in the fourth quarter valued at approximately $36,000. Itau Unibanco Holding S.A. purchased a new position in DocuSign during the 3rd quarter worth approximately $28,000. Finally, Avion Wealth boosted its holdings in shares of DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company's stock valued at $43,000 after acquiring an additional 368 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DocuSign

In related news, Director Teresa Briggs sold 534 shares of DocuSign 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 completion of the sale, the director now owns 8,270 shares in the company, valued at approximately $722,880.70. This trade represents a 6.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the completion of the sale, the chief executive officer now owns 156,050 shares of the company's stock, valued at $14,050,742. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,422 shares of company stock worth $8,903,395 in the last 90 days. Insiders own 1.66% of the company's stock.

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DocuSign Trading Up 1.9 %

DOCU stock traded up $1.62 during mid-day trading on Tuesday, reaching $85.05. The company's stock had a trading volume of 913,977 shares, compared to its average volume of 2,602,038. The stock has a market cap of $17.18 billion, a PE ratio of 17.50, a P/E/G ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The company's 50 day moving average is $87.82 and its two-hundred day moving average is $79.69.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DOCU. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research report on Friday. Morgan Stanley increased their target price on shares of DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a research note on Friday, December 6th. Robert W. Baird increased their target price 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. UBS Group lowered their target price on shares of DocuSign from $100.00 to $90.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. raised shares of DocuSign from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $70.00 to $75.00 in a research note on Monday, March 10th. Two equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $95.58.

DocuSign Company 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.