SOA Wealth Advisors LLC. acquired a new position in DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 500 shares of the company’s stock, valued at approximately $127,000.
A number of other institutional investors and hedge funds have also made changes to their positions in DOCU. NewSquare Capital LLC grew its holdings in DocuSign by 71.4% in the fourth quarter. NewSquare Capital LLC now owns 120 shares of the company’s stock worth $27,000 after purchasing an additional 50 shares during the period. Associated Banc Corp lifted its stake in shares of DocuSign by 202.3% in the fourth quarter. Associated Banc Corp now owns 130 shares of the company’s stock worth $29,000 after buying an additional 87 shares in the last quarter. Ellis Investment Partners LLC lifted its stake in shares of DocuSign by 1,300.0% in the fourth quarter. Ellis Investment Partners LLC now owns 140 shares of the company’s stock worth $31,000 after buying an additional 130 shares in the last quarter. Avion Wealth bought a new position in shares of DocuSign in the fourth quarter worth approximately $33,000. Finally, Retirement Group LLC bought a new position in shares of DocuSign in the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 72.76% of the company’s stock.
Several research analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of DocuSign in a research note on Thursday. They issued a “buy” rating on the stock. Piper Sandler upgraded shares of DocuSign from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $225.00 to $300.00 in a research note on Monday, January 4th. Morgan Stanley upped their target price on shares of DocuSign from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, March 18th. Daiwa Capital Markets started coverage on shares of DocuSign in a research report on Monday, March 29th. They set a “buy” rating and a $239.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of DocuSign from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 31st. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. DocuSign currently has a consensus rating of “Buy” and an average target price of $272.55.
DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Wednesday, March 10th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.15. The firm had revenue of $430.89 million during the quarter, compared to analysts’ expectations of $407.95 million. DocuSign had a negative net margin of 16.83% and a negative return on equity of 30.14%. The company’s revenue for the quarter was up 56.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.12 earnings per share. On average, research analysts expect that DocuSign, Inc. will post -0.68 EPS for the current year.
In other news, COO Scott V. Olrich sold 5,800 shares of the firm’s stock in a transaction dated Wednesday, February 10th. The shares were sold at an average price of $256.69, for a total value of $1,488,802.00. Following the completion of the sale, the chief operating officer now owns 208,346 shares in the company, valued at approximately $53,480,334.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Loren Alhadeff sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 12th. The stock was sold at an average price of $258.85, for a total transaction of $1,294,250.00. Following the completion of the sale, the executive now owns 89,696 shares of the company’s stock, valued at approximately $23,217,809.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 379,731 shares of company stock valued at $87,272,153. Corporate insiders own 5.06% of the company’s stock.
DocuSign, Inc provides cloud based software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It also offers DocuSign CLM, which automates workflows across the entire agreement process; Intelligent Insights that use artificial intelligence to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; and Negotiate for Salesforce that supports for approvals, document comparisons, and version control.
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