Moran Wealth Management LLC Increases Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Moran Wealth Management LLC increased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 58.8% during the third quarter, HoldingsChannel.com reports. The firm owned 12,670 shares of the company’s stock after buying an additional 4,692 shares during the period. Moran Wealth Management LLC’s holdings in DocuSign were worth $787,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV grew its stake in DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares in the last quarter. Mather Group LLC. grew its position in shares of DocuSign by 4,338.5% during the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 564 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of DocuSign in the third quarter worth $47,000. nVerses Capital LLC purchased a new stake in shares of DocuSign in the second quarter worth $48,000. Finally, Quarry LP bought a new stake in DocuSign during the second quarter valued at $53,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling

In other news, CFO Blake Jeffrey Grayson sold 14,036 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.47, for a total value of $778,576.92. Following the completion of the transaction, the chief financial officer now owns 87,611 shares in the company, valued at $4,859,782.17. This trade represents a 13.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Allan C. Thygesen sold 7,764 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $69.95, for a total value of $543,091.80. Following the transaction, the chief executive officer now directly owns 107,825 shares of the company’s stock, valued at $7,542,358.75. This represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,558 shares of company stock valued at $4,272,768 over the last ninety days. 1.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Citigroup lifted their target price on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Bank of America raised their price objective on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Robert W. Baird upped their target price on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company increased their target price on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.40.

DocuSign Price Performance

DOCU opened at $80.18 on Friday. The stock’s 50 day simple moving average is $68.94 and its 200 day simple moving average is $60.07. The firm has a market cap of $16.27 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 8.41 and a beta of 0.90. DocuSign, Inc. has a 1 year low of $42.12 and a 1 year high of $83.68.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 EPS. As a group, sell-side analysts anticipate that DocuSign, Inc. will post 1.01 EPS for the current year.

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.