Envestnet Portfolio Solutions Inc. Purchases Shares of 3,334 DocuSign, Inc. (NASDAQ:DOCU)

Envestnet Portfolio Solutions Inc. acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 3,334 shares of the company’s stock, valued at approximately $300,000.

Several other hedge funds have also modified their holdings of the stock. Natixis Advisors LLC acquired a new position in shares of DocuSign in the 3rd quarter valued at $873,000. Massachusetts Financial Services Co. MA boosted its holdings in DocuSign by 1.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 32,391 shares of the company’s stock valued at $2,011,000 after acquiring an additional 447 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in DocuSign by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after acquiring an additional 16,014 shares during the last quarter. Cerity Partners LLC grew its position in DocuSign by 39.6% during the third quarter. Cerity Partners LLC now owns 101,600 shares of the company’s stock valued at $6,308,000 after acquiring an additional 28,829 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in DocuSign by 2.4% during the third quarter. The Manufacturers Life Insurance Company now owns 53,508 shares of the company’s stock worth $3,322,000 after acquiring an additional 1,248 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. HSBC reissued a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Morgan Stanley upped their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Robert W. Baird set a $93.00 price objective on DocuSign in a research report on Friday, March 14th. Finally, Jefferies Financial Group boosted their price objective on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Two equities 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $95.00.

Insider Transactions at DocuSign

In other 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 value of $676,275.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the transaction, the chief executive officer now owns 156,050 shares in the company, valued at $14,050,742. This trade represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,851 shares of company stock valued at $8,579,369. Insiders own 1.66% of the company’s stock.

DocuSign Stock Down 1.4 %

DOCU stock opened at $85.65 on Friday. The stock’s 50 day moving average is $87.30 and its two-hundred day moving average is $80.98. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The company has a market capitalization of $17.34 billion, a PE ratio of 17.66, a P/E/G ratio of 6.94 and a beta of 1.02.

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

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.