Prospera Private Wealth LLC Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

Prospera Private Wealth LLC bought a new position in DocuSign, Inc. (NASDAQ:DOCU) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,891 shares of the company’s stock, valued at approximately $117,000.

A number of other institutional investors have also bought and sold shares of DOCU. American Century Companies Inc. boosted its stake in shares of DocuSign by 1.9% in the second quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock worth $219,318,000 after acquiring an additional 75,026 shares during the period. Renaissance Technologies LLC raised its stake in DocuSign by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after purchasing an additional 576,414 shares during the period. Pacer Advisors Inc. lifted its holdings in DocuSign by 77.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after purchasing an additional 1,541,816 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its stake in DocuSign by 316.6% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after purchasing an additional 2,597,489 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in DocuSign by 4.1% during the 2nd quarter. Clearbridge Investments LLC now owns 2,920,842 shares of the company’s stock valued at $156,265,000 after buying an additional 115,616 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Robert W. Baird lifted their target price on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Bank of America increased their price target on DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Wells Fargo & Company raised their price target on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DocuSign has an average rating of “Hold” and a consensus price target of $63.40.

DocuSign Stock Performance

NASDAQ:DOCU opened at $80.18 on Friday. The stock’s fifty day moving average is $68.94 and its 200 day moving average is $60.07. The firm has a market capitalization of $16.27 billion, a PE ratio of 16.92, a PEG ratio of 8.41 and a beta of 0.90. DocuSign, Inc. has a fifty-two week low of $42.12 and a fifty-two week high of $83.68.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.17. The firm had revenue of $736.03 million during the quarter, compared to analyst estimates of $727.20 million. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business earned $0.09 EPS. Equities analysts forecast that DocuSign, Inc. will post 1.01 EPS for the current year.

Insider Activity

In other DocuSign news, CEO Allan C. Thygesen sold 7,764 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $69.95, for a total value of $543,091.80. Following the transaction, the chief executive officer now owns 107,825 shares of the company’s stock, valued at $7,542,358.75. This represents a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total value of $657,177.60. Following the completion of the sale, the chief financial officer now owns 78,265 shares in the company, valued at approximately $5,384,632. The trade was a 10.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is currently owned by insiders.

DocuSign Company 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.