Farther Finance Advisors LLC Cuts Position in DocuSign, Inc. (NASDAQ:DOCU)

Farther Finance Advisors LLC trimmed its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 64.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,515 shares of the company’s stock after selling 2,805 shares during the period. Farther Finance Advisors LLC’s holdings in DocuSign were worth $136,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DOCU. Itau Unibanco Holding S.A. purchased a new stake in shares of DocuSign during the third quarter worth approximately $28,000. Kestra Investment Management LLC acquired a new stake in DocuSign during the fourth quarter worth approximately $30,000. Brooklyn Investment Group acquired a new stake in DocuSign during the third quarter worth approximately $33,000. Modus Advisors LLC acquired a new stake in DocuSign during the fourth quarter worth approximately $36,000. Finally, First Horizon Advisors Inc. raised its holdings in DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares in the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wedbush reissued a “neutral” rating and set a $100.00 price objective on shares of DocuSign in a report on Friday, March 14th. Jefferies Financial Group raised their price objective on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Piper Sandler raised their price objective on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $70.00 to $75.00 in a report on Monday, March 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and an average target price of $95.00.

Insider Activity at DocuSign

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were 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 in the company, valued at approximately $3,947,732.77. The trade was a 14.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Chatwani sold 15,706 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the sale, the insider now owns 76,842 shares in the company, valued at $6,392,485.98. The trade was a 16.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,851 shares of company stock worth $8,579,369 in the last three months. Insiders own 1.66% of the company’s stock.

DocuSign Price Performance

NASDAQ:DOCU opened at $85.11 on Friday. The firm’s fifty day moving average price is $87.58 and its 200 day moving average price is $79.95. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The firm has a market cap of $17.19 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last posted 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 firm had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same period last year, the firm posted $0.76 EPS. DocuSign’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal 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.