EverSource Wealth Advisors LLC Has $73,000 Position in DocuSign, Inc. (NASDAQ:DOCU)

EverSource Wealth Advisors LLC lowered its stake in DocuSign, Inc. (NASDAQ:DOCU) by 54.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,282 shares of the company’s stock after selling 1,527 shares during the period. EverSource Wealth Advisors LLC’s holdings in DocuSign were worth $73,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Analysts LLC increased its holdings in shares of DocuSign by 781.7% in the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock valued at $31,000 after purchasing an additional 469 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in DocuSign during the 1st quarter worth $37,000. ICA Group Wealth Management LLC acquired a new stake in DocuSign during the 4th quarter worth $39,000. Desjardins Global Asset Management Inc. grew its holdings in DocuSign by 60.5% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 966 shares of the company’s stock worth $57,000 after acquiring an additional 364 shares during the period. Finally, Jones Financial Companies Lllp acquired a new stake in DocuSign during the 4th quarter worth $59,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Transactions at DocuSign

In other news, insider James P. Shaughnessy sold 1,800 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $50.98, for a total transaction of $91,764.00. Following the transaction, the insider now directly owns 35,703 shares in the company, valued at approximately $1,820,138.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Teresa Briggs sold 499 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $54.92, for a total value of $27,405.08. Following the completion of the sale, the director now directly owns 6,668 shares in the company, valued at approximately $366,206.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James P. Shaughnessy sold 1,800 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total value of $91,764.00. Following the transaction, the insider now owns 35,703 shares in the company, valued at approximately $1,820,138.94. The disclosure for this sale can be found here. Insiders have sold 404,209 shares of company stock worth $21,557,242 in the last ninety days. Insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on DOCU shares. Morgan Stanley lowered their target price on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, June 7th. JMP Securities reissued a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research report on Wednesday, July 10th. Citigroup reduced their price target on shares of DocuSign from $93.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Finally, Piper Sandler reduced their price target on shares of DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $59.36.

DocuSign Price Performance

DOCU stock traded up $1.33 during midday trading on Tuesday, hitting $51.06. The company’s stock had a trading volume of 971,975 shares, compared to its average volume of 2,776,654. DocuSign, Inc. has a twelve month low of $38.11 and a twelve month high of $64.76. The company’s fifty day moving average price is $53.80 and its 200 day moving average price is $55.89. The stock has a market capitalization of $10.45 billion, a P/E ratio of 98.48, a PEG ratio of 8.34 and a beta of 0.94.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, June 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.09. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. The firm had revenue of $709.64 million for the quarter, compared to analyst estimates of $706.07 million. Equities analysts expect that DocuSign, Inc. will post 0.88 EPS for the current fiscal year.

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.