NewEdge Wealth LLC Invests $667,000 in DocuSign, Inc. (NASDAQ:DOCU)

NewEdge Wealth LLC bought a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, Holdings Channel reports. The fund bought 11,221 shares of the company’s stock, valued at approximately $667,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in DocuSign by 440.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock valued at $28,000 after purchasing an additional 220 shares in the last quarter. BluePath Capital Management LLC acquired a new position in shares of DocuSign during the 3rd quarter worth about $32,000. McGlone Suttner Wealth Management Inc. purchased a new position in DocuSign in the 4th quarter valued at about $32,000. Farther Finance Advisors LLC boosted its holdings in DocuSign by 171.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 664 shares of the company’s stock worth $34,000 after buying an additional 419 shares during the last quarter. Finally, Performa Ltd US LLC increased its stake in DocuSign by 50.0% during the 3rd quarter. Performa Ltd US LLC now owns 825 shares of the company’s stock worth $35,000 after buying an additional 275 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity

In related news, CEO Allan C. Thygesen sold 7,680 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $61.27, for a total value of $470,553.60. Following the sale, the chief executive officer now directly owns 111,767 shares in the company, valued at approximately $6,847,964.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Allan C. Thygesen sold 7,680 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $61.27, for a total transaction of $470,553.60. Following the completion of the transaction, the chief executive officer now owns 111,767 shares of the company’s stock, valued at approximately $6,847,964.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $52.99, for a total transaction of $26,442.01. Following the completion of the sale, the director now owns 6,169 shares of the company’s stock, valued at approximately $326,895.31. The disclosure for this sale can be found here. Insiders have sold a total of 54,871 shares of company stock valued at $3,176,199 in the last quarter. Insiders own 17.80% of the company’s stock.

DocuSign Price Performance

NASDAQ:DOCU opened at $57.74 on Wednesday. The company’s 50-day moving average is $55.55 and its two-hundred day moving average is $51.95. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 160.39, a PEG ratio of 5.15 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $712.39 million for the quarter, compared to analysts’ expectations of $698.05 million. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. As a group, equities analysts anticipate that DocuSign, Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on DOCU. JMP Securities restated a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research report on Friday, April 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $59.00 price objective on shares of DocuSign in a report on Friday, April 12th. Wells Fargo & Company dropped their target price on shares of DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a report on Monday, February 5th. Morgan Stanley raised shares of DocuSign from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $49.00 to $64.00 in a research note on Tuesday, January 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $60.25.

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.