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

Wealthfront Advisers LLC raised its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 200.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DOCU. Apollon Wealth Management LLC bought a new position in shares of DocuSign during the 3rd quarter valued at about $203,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of DocuSign by 10.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,113 shares of the company’s stock valued at $29,500,000 after purchasing an additional 44,615 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of DocuSign by 211.4% during the 3rd quarter. Victory Capital Management Inc. now owns 409,877 shares of the company’s stock valued at $25,449,000 after purchasing an additional 278,252 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of DocuSign by 9.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,442 shares of the company’s stock valued at $338,000 after purchasing an additional 481 shares during the last quarter. Finally, Metis Global Partners LLC bought a new position in shares of DocuSign during the 3rd quarter valued at about $224,000. Institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Wells Fargo & Company upped their target price on shares of DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research report on Friday. JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and upped their target price for the company from $70.00 to $75.00 in a research report on Monday, March 10th. Piper Sandler upped their target price on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, DocuSign has an average rating of “Hold” and an average target price of $95.58.

Insiders Place Their Bets

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the transaction, the chief financial officer now directly owns 77,851 shares in the company, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Chatwani sold 14,800 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the transaction, the insider now owns 73,414 shares in the company, valued at approximately $7,176,952.64. This represents a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,422 shares of company stock worth $9,665,394 in the last three months. Corporate insiders own 1.66% of the company’s stock.

DocuSign Price Performance

Shares of DOCU stock opened at $85.76 on Friday. The company has a market capitalization of $17.33 billion, a P/E ratio of 17.68, a P/E/G ratio of 6.94 and a beta of 1.02. The company’s 50-day simple moving average is $87.97 and its two-hundred day simple moving average is $79.37. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

DocuSign (NASDAQ:DOCU) last issued 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 business had revenue of $776.25 million for 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%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 EPS. On average, research analysts expect that DocuSign, Inc. will post 1.17 EPS for the current fiscal 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.