Prospera Financial Services Inc Raises Stock Holdings in Docusign Inc. $DOCU

Prospera Financial Services Inc boosted its stake in Docusign Inc. (NASDAQ:DOCU) by 267.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 19,210 shares of the company’s stock after acquiring an additional 13,982 shares during the period. Prospera Financial Services Inc’s holdings in Docusign were worth $1,314,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DOCU. NewEdge Advisors LLC raised its position in Docusign by 36.4% in the first quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after purchasing an additional 2,457 shares during the period. Guggenheim Capital LLC raised its position in Docusign by 6.7% in the second quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock valued at $899,000 after purchasing an additional 729 shares during the period. State Street Corp raised its position in Docusign by 3.0% in the second quarter. State Street Corp now owns 8,074,976 shares of the company’s stock valued at $628,960,000 after purchasing an additional 236,494 shares during the period. Sei Investments Co. raised its position in Docusign by 60.7% in the second quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock valued at $3,146,000 after purchasing an additional 15,247 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in Docusign by 51.0% in the second quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock valued at $14,735,000 after purchasing an additional 63,911 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Stock Performance

DOCU stock opened at $49.58 on Friday. The company’s 50 day moving average price is $47.16 and its 200 day moving average price is $54.74. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $94.67. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 1.85 and a beta of 0.88.

Docusign (NASDAQ:DOCU) last released its earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The firm had revenue of $836.86 million for the quarter, compared to analyst estimates of $828.23 million. During the same period in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts forecast that Docusign Inc. will post 1.76 EPS for the current fiscal year.

Docusign announced that its board has authorized a share buyback program on Tuesday, March 17th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 21% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CRO Paula Hansen sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $46.84, for a total transaction of $281,040.00. Following the sale, the executive directly owned 79,233 shares in the company, valued at approximately $3,711,273.72. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.83, for a total transaction of $561,960.00. Following the sale, the insider owned 53,631 shares in the company, valued at $2,511,539.73. The trade was a 18.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 64,309 shares of company stock valued at $3,061,570. 0.59% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

DOCU has been the topic of a number of research analyst reports. Bank of America assumed coverage on Docusign in a research report on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 target price on the stock. Royal Bank Of Canada reduced their price target on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 18th. UBS Group reduced their price target on shares of Docusign from $75.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Citizens Jmp reduced their price target on shares of Docusign from $124.00 to $86.00 and set a “market outperform” rating on the stock in a research report on Wednesday, March 18th. Finally, Piper Sandler reduced their price target on shares of Docusign from $75.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Docusign has a consensus rating of “Hold” and a consensus price target of $61.40.

Docusign Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.