NewEdge Wealth LLC Buys New Stake in DocuSign, Inc. (NASDAQ:DOCU)

NewEdge Wealth LLC purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,221 shares of the company’s stock, valued at approximately $667,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in shares of DocuSign by 440.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock worth $28,000 after buying an additional 220 shares in the last quarter. BluePath Capital Management LLC bought a new stake in DocuSign in the 3rd quarter worth approximately $32,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of DocuSign during the 4th quarter worth approximately $32,000. Farther Finance Advisors LLC boosted its position in shares of DocuSign by 171.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 664 shares of the company’s stock valued at $34,000 after acquiring an additional 419 shares during the last quarter. Finally, Performa Ltd US LLC grew its holdings in shares of DocuSign by 50.0% in the third quarter. Performa Ltd US LLC now owns 825 shares of the company’s stock valued at $35,000 after purchasing an additional 275 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

Insider Activity at DocuSign

In other DocuSign news, Director Teresa Briggs sold 499 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $52.99, for a total value of $26,442.01. Following the transaction, the director now directly owns 6,169 shares in the company, valued at approximately $326,895.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other DocuSign news, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total transaction of $26,442.01. Following the completion of the sale, the director now directly owns 6,169 shares of the company’s stock, valued at approximately $326,895.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephen Shute sold 15,109 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total value of $861,515.18. Following the transaction, the insider now directly owns 8,959 shares in the company, valued at approximately $510,842.18. The disclosure for this sale can be found here. Insiders sold 54,871 shares of company stock worth $3,176,199 in the last 90 days. 17.80% of the stock is owned by corporate insiders.

DocuSign Stock Performance

Shares of DOCU stock opened at $57.74 on Wednesday. The stock has a 50 day moving average price of $55.55 and a 200 day moving average price of $51.95. DocuSign, Inc. has a 52-week low of $38.11 and a 52-week high of $64.76. The firm has a market capitalization of $11.86 billion, a P/E ratio of 160.39, a P/E/G ratio of 5.15 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. The business had revenue of $712.39 million for the quarter, compared to analyst estimates of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. As a group, sell-side analysts forecast that DocuSign, Inc. will post 0.86 EPS for the current year.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. Morgan Stanley upgraded shares of DocuSign from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $49.00 to $64.00 in a research report on Tuesday, January 16th. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $48.00 to $62.00 in a research report on Friday, April 12th. Wells Fargo & Company decreased their price objective on DocuSign from $55.00 to $45.00 and set an “underweight” rating on the stock in a research report on Monday, February 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $59.00 price objective on shares of DocuSign in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and an average target price of $60.25.

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.