Farther Finance Advisors LLC Purchases 1,271 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Farther Finance Advisors LLC grew its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 41.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,320 shares of the company’s stock after buying an additional 1,271 shares during the quarter. Farther Finance Advisors LLC’s holdings in DocuSign were worth $268,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its stake in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the period. Mather Group LLC. increased its stake in DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares during the period. Reston Wealth Management LLC bought a new stake in DocuSign during the 3rd quarter valued at about $47,000. nVerses Capital LLC purchased a new stake in shares of DocuSign in the 2nd quarter worth $48,000. Finally, Quarry LP purchased a new stake in shares of DocuSign in the 2nd quarter worth approximately $53,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 price target on shares of DocuSign in a report on Thursday, September 5th. Royal Bank of Canada lifted their price objective on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a research note on Friday, September 6th. Citigroup boosted their target price on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Robert W. Baird upped their price target 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, Bank of America raised their target price on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, DocuSign has an average rating of “Hold” and a consensus price target of $63.40.

DocuSign Price Performance

Shares of NASDAQ DOCU opened at $79.38 on Friday. DocuSign, Inc. has a 1 year low of $39.65 and a 1 year high of $79.50. The company has a market capitalization of $16.11 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 7.39 and a beta of 0.90. The business has a 50-day moving average of $64.76 and a two-hundred day moving average of $58.65.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The business had revenue of $736.03 million for 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 company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. As a group, equities research analysts expect that DocuSign, Inc. will post 1.01 earnings per share for the current year.

Insider Activity at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the transaction, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the transaction, the director now directly owns 7,202 shares of the company’s stock, valued at $407,345.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total value of $820,752.54. Following the completion of the sale, the insider now owns 70,748 shares in the company, valued at $3,923,684.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,558 shares of company stock worth $4,272,768 over the last three months. 1.66% of the stock is currently owned by corporate insiders.

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.