Zacks Investment Management Buys 5,824 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Zacks Investment Management increased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 22.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 32,229 shares of the company’s stock after buying an additional 5,824 shares during the quarter. Zacks Investment Management’s holdings in DocuSign were worth $2,899,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Kestra Investment Management LLC purchased a new stake in shares of DocuSign during the 4th quarter worth approximately $30,000. First Horizon Advisors Inc. increased its holdings in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after acquiring an additional 201 shares during the last quarter. Modus Advisors LLC purchased a new stake in DocuSign during the fourth quarter valued at about $36,000. Bessemer Group Inc. increased its stake in shares of DocuSign by 490.0% in the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company’s stock worth $42,000 after purchasing an additional 392 shares in the last quarter. Finally, Avion Wealth lifted its stake in shares of DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after buying an additional 368 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

Insider Activity at DocuSign

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

Analyst Ratings Changes

DOCU has been the subject of a number of analyst reports. HSBC raised DocuSign from a “reduce” rating to a “hold” rating and set a $70.00 price target for the company in a report on Friday, April 11th. Wedbush reiterated a “neutral” rating and set a $100.00 price target on shares of DocuSign in a research report on Friday, March 14th. JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $70.00 to $75.00 in a research report on Monday, March 10th. UBS Group cut their price target on shares of DocuSign from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Jefferies Financial Group dropped their price objective on DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $93.08.

DocuSign Stock Performance

Shares of DOCU opened at $75.42 on Friday. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The firm has a market cap of $15.27 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 6.94 and a beta of 1.20. The firm has a 50 day moving average price of $81.60 and a 200-day moving average price of $83.00.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities research analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current year.

DocuSign 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.