DocuSign, Inc. (NASDAQ:DOCU) Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC grew its stake in DocuSign, Inc. (NASDAQ:DOCU) by 200.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,666 shares of the company’s stock after buying an additional 7,788 shares during the period. Wealthfront Advisers LLC’s holdings in DocuSign were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Citizens Financial Group Inc. RI raised its holdings in shares of DocuSign by 2.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock worth $539,000 after buying an additional 133 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of DocuSign by 12.9% in the fourth quarter. Independent Advisor Alliance now owns 5,042 shares of the company’s stock worth $453,000 after buying an additional 577 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of DocuSign by 24.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 19,270 shares of the company’s stock worth $1,733,000 after buying an additional 3,737 shares during the last quarter. Moran Wealth Management LLC raised its holdings in shares of DocuSign by 16.9% in the fourth quarter. Moran Wealth Management LLC now owns 14,816 shares of the company’s stock worth $1,333,000 after buying an additional 2,146 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of DocuSign by 45.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 190,358 shares of the company’s stock worth $17,121,000 after buying an additional 59,162 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. HSBC reissued a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Wells Fargo & Company raised their target price on shares of DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday. Jefferies Financial Group raised their target price on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Citigroup raised their target price on shares of DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a report on Friday. Finally, Hsbc Global Res raised shares of DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and a consensus price target of $95.58.

Insider Activity

In related news, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the transaction, the chief executive officer now directly owns 156,050 shares in the company, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $94.77, for a total transaction of $758,160.00. Following the transaction, the chief financial officer now owns 101,439 shares in the company, valued at $9,613,374.03. The trade was a 7.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,422 shares of company stock worth $9,665,394 over the last 90 days. 1.66% of the stock is currently owned by company insiders.

DocuSign Stock Up 14.8 %

Shares of NASDAQ DOCU opened at $85.76 on Friday. The company’s 50-day simple moving average is $87.97 and its 200-day simple moving average is $79.37. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The firm has a market cap of $17.33 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $760.94 million. During the same quarter last year, the business earned $0.76 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current fiscal 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.