LPL Financial LLC Increases Position in DocuSign, Inc. (NASDAQ:DOCU)

LPL Financial LLC grew its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 12.4% during the fourth quarter, HoldingsChannel reports. The firm owned 209,927 shares of the company’s stock after acquiring an additional 23,181 shares during the period. LPL Financial LLC’s holdings in DocuSign were worth $18,881,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of DocuSign in the third quarter valued at about $28,000. Kestra Investment Management LLC purchased a new stake in shares of DocuSign in the 4th quarter valued at approximately $30,000. Modus Advisors LLC acquired a new stake in shares of DocuSign during the 4th quarter worth approximately $36,000. First Horizon Advisors Inc. raised its position in shares of DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after buying an additional 201 shares during the period. Finally, Avion Wealth lifted its holdings 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 during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DOCU. HSBC reissued a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Wedbush restated a “neutral” rating and issued a $100.00 price objective on shares of DocuSign in a report on Friday, March 14th. UBS Group decreased their target price 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. Hsbc Global Res upgraded shares of DocuSign to a “moderate sell” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $95.83.

DocuSign Stock Down 2.1 %

DocuSign stock opened at $81.40 on Tuesday. The company’s 50 day moving average is $87.01 and its two-hundred day moving average is $81.71. The firm has a market cap of $16.48 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

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

Insider Activity

In related news, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the transaction, the chief executive officer now owns 156,050 shares in the company, valued at $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,851 shares of company stock worth $8,579,369. 1.66% of the stock is currently owned by company insiders.

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.