Corient Private Wealth LLC Has $2.29 Million Position in DocuSign, Inc. (NASDAQ:DOCU)

Corient Private Wealth LLC cut its position in DocuSign, Inc. (NASDAQ:DOCU) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,440 shares of the company’s stock after selling 5,308 shares during the period. Corient Private Wealth LLC’s holdings in DocuSign were worth $2,288,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new stake in shares of DocuSign in the 4th quarter valued at $30,000. First Horizon Advisors Inc. increased its holdings in shares of DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after acquiring an additional 201 shares in the last quarter. Modus Advisors LLC bought a new stake in shares of DocuSign in the fourth quarter worth about $36,000. Itau Unibanco Holding S.A. acquired a new stake in shares of DocuSign during the third quarter worth about $28,000. Finally, Avion Wealth lifted its holdings in shares of DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after purchasing an additional 368 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

DocuSign Stock Performance

NASDAQ:DOCU opened at $88.06 on Monday. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The company has a market cap of $17.79 billion, a P/E ratio of 18.16, a P/E/G ratio of 6.94 and a beta of 1.02. The stock’s 50-day simple moving average is $87.54 and its 200 day simple moving average is $80.47.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. The firm had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 EPS. As a group, equities analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DOCU shares. Wells Fargo & Company increased their target price on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research note on Friday, March 14th. Bank of America lowered their price objective on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. UBS Group cut their price objective on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Piper Sandler upped their target price on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Wedbush reissued a “neutral” rating and issued a $100.00 price target on shares of DocuSign in a research note on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $95.00.

Insider Buying and Selling

In related news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total transaction of $676,275.00. Following the transaction, the insider now directly owns 43,781 shares of the company’s stock, valued at approximately $3,947,732.77. The trade was a 14.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Chatwani sold 15,706 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the sale, the insider now directly owns 76,842 shares of the company’s stock, valued at $6,392,485.98. This represents a 16.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,851 shares of company stock worth $8,579,369. Insiders own 1.66% of the company’s stock.

About DocuSign

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.