Independent Advisor Alliance Raises Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Independent Advisor Alliance boosted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 12.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,042 shares of the company’s stock after buying an additional 577 shares during the quarter. Independent Advisor Alliance’s holdings in DocuSign were worth $453,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in DocuSign during the fourth quarter valued at approximately $30,000. First Horizon Advisors Inc. boosted its stake in 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 acquiring an additional 201 shares in the last quarter. Modus Advisors LLC acquired a new stake in DocuSign in the fourth quarter valued at approximately $36,000. Itau Unibanco Holding S.A. acquired a new stake in DocuSign in the third quarter valued at approximately $28,000. Finally, Avion Wealth boosted its stake in DocuSign by 309.2% in the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after acquiring an additional 368 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DOCU. Wedbush restated a “neutral” rating and issued a $100.00 target price on shares of DocuSign in a research note on Friday. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday. Piper Sandler raised their target price on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Robert W. Baird lifted their price objective 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. Finally, Jefferies Financial Group lifted their price objective on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $95.58.

DocuSign Stock Performance

DOCU opened at $83.43 on Tuesday. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The company has a fifty day moving average of $87.82 and a two-hundred day moving average of $79.69. The stock has a market capitalization of $16.85 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 6.94 and a beta of 1.02.

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

Insider Buying and Selling at DocuSign

In other news, insider Robert Chatwani sold 14,800 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 73,414 shares of the company’s stock, valued at $7,176,952.64. The trade was a 16.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total transaction of $676,275.00. Following the sale, the insider now directly owns 43,781 shares of the company’s stock, valued at $3,947,732.77. This represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,422 shares of company stock valued at $8,903,395. Corporate insiders own 1.66% of the company’s stock.

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.