Insigneo Advisory Services LLC Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

Insigneo Advisory Services LLC purchased a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,654 shares of the company’s stock, valued at approximately $329,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DOCU. Citizens Financial Group Inc. RI raised its stake in DocuSign by 2.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock valued at $539,000 after acquiring an additional 133 shares during the period. Rakuten Securities Inc. increased its position in shares of DocuSign by 20.9% during the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock valued at $72,000 after purchasing an additional 138 shares during the last quarter. Synergy Financial Group LTD grew its position in DocuSign by 3.4% during the fourth quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after acquiring an additional 140 shares during the last quarter. M&T Bank Corp grew its holdings in shares of DocuSign by 1.3% during the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock valued at $975,000 after purchasing an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC grew its stake in shares of DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after buying an additional 145 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Insider Buying and Selling at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the transaction, the chief financial officer now directly owns 77,851 shares of the company’s stock, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the sale, the director now directly owns 8,270 shares in the company, valued at approximately $722,880.70. This represents a 6.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,851 shares of company stock worth $4,607,439 over the last three months. Corporate insiders own 1.66% of the company’s stock.

DocuSign Trading Down 1.3 %

Shares of NASDAQ DOCU opened at $75.42 on Friday. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The stock’s fifty day simple moving average is $81.35 and its two-hundred day simple moving average is $83.10. The stock has a market capitalization of $15.27 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 earnings per share. On average, equities analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on DOCU shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. Citigroup raised their target price on DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. HSBC upgraded DocuSign from a “reduce” rating to a “hold” rating and set a $70.00 price objective for the company in a report on Friday, April 11th. Wells Fargo & Company lifted their price target on shares of DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a report on Friday, March 14th. Finally, Bank of America dropped their target price on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $93.08.

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.