Resonant Capital Advisors LLC Buys 4,464 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Resonant Capital Advisors LLC increased its stake in DocuSign, Inc. (NASDAQ:DOCU) by 34.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,300 shares of the company’s stock after acquiring an additional 4,464 shares during the period. Resonant Capital Advisors LLC’s holdings in DocuSign were worth $1,028,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. New York State Teachers Retirement System lifted its stake in shares of DocuSign by 0.9% in the 4th quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock valued at $1,087,000 after acquiring an additional 163 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of DocuSign by 1.9% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,965 shares of the company’s stock valued at $514,000 after acquiring an additional 164 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of DocuSign by 3.8% in the 4th quarter. Integrated Wealth Concepts LLC now owns 5,009 shares of the company’s stock valued at $278,000 after acquiring an additional 182 shares during the last quarter. Utah Retirement Systems lifted its stake in shares of DocuSign by 0.6% in the 2nd quarter. Utah Retirement Systems now owns 34,587 shares of the company’s stock valued at $1,984,000 after acquiring an additional 200 shares during the last quarter. Finally, Whittier Trust Co. raised its position in DocuSign by 28.8% during the 4th quarter. Whittier Trust Co. now owns 935 shares of the company’s stock valued at $56,000 after purchasing an additional 209 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley raised DocuSign from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $49.00 to $64.00 in a research report on Tuesday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $59.00 price target on shares of DocuSign in a research report on Friday, April 12th. UBS Group raised DocuSign from a “sell” rating to a “neutral” rating and upped their price target for the company from $48.00 to $62.00 in a research report on Friday, April 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, April 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.25.

Insider Activity at DocuSign

In related news, insider Stephen Shute sold 15,109 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total transaction of $861,515.18. Following the completion of the transaction, the insider now owns 8,959 shares of the company’s stock, valued at approximately $510,842.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Stephen Shute sold 15,109 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total transaction of $861,515.18. Following the completion of the transaction, the insider now owns 8,959 shares of the company’s stock, valued at approximately $510,842.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James P. Shaughnessy sold 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $57.50, for a total value of $103,500.00. Following the transaction, the insider now directly owns 46,503 shares of the company’s stock, valued at approximately $2,673,922.50. The disclosure for this sale can be found here. Insiders sold a total of 54,871 shares of company stock valued at $3,176,199 in the last 90 days. Corporate insiders own 17.80% of the company’s stock.

DocuSign Stock Performance

DOCU stock opened at $55.70 on Friday. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $64.76. The business’s 50 day moving average price is $55.90 and its two-hundred day moving average price is $52.12. The company has a market capitalization of $11.44 billion, a price-to-earnings ratio of 154.73, a price-to-earnings-growth ratio of 4.99 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The firm had revenue of $712.39 million for the quarter, compared to the consensus estimate of $698.05 million. Sell-side analysts forecast that DocuSign, Inc. will post 0.86 earnings per share for the current 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.