Farther Finance Advisors LLC Grows Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Farther Finance Advisors LLC increased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 218.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,827 shares of the company’s stock after buying an additional 3,312 shares during the period. Farther Finance Advisors LLC’s holdings in DocuSign were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in DOCU. Citizens Financial Group Inc. RI increased 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 buying an additional 133 shares during the last quarter. Rakuten Securities Inc. increased its stake in DocuSign by 20.9% in the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock valued at $72,000 after buying an additional 138 shares during the last quarter. Synergy Financial Group LTD increased its stake in DocuSign by 3.4% in the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock valued at $381,000 after buying an additional 140 shares during the last quarter. M&T Bank Corp increased its stake in DocuSign by 1.3% in the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock valued at $975,000 after buying an additional 143 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in DocuSign by 34.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company’s stock valued at $50,000 after buying an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In other DocuSign news, insider Robert Chatwani sold 15,706 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the transaction, the insider now owns 76,842 shares in the company, valued at $6,392,485.98. This represents a 16.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $74.37, for a total transaction of $39,713.58. Following the transaction, the director now owns 8,805 shares in the company, valued at approximately $654,827.85. The trade was a 5.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,851 shares of company stock worth $3,905,276 in the last quarter. Corporate insiders own 1.01% of the company’s stock.

DocuSign Stock Performance

Shares of DOCU stock opened at $75.68 on Tuesday. The company has a market capitalization of $15.29 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 6.94 and a beta of 1.14. The company has a 50-day simple moving average of $82.32 and a 200 day simple moving average of $86.06. DocuSign, Inc. has a 52 week low of $48.80 and a 52 week high of $107.86.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $763.65 million for the quarter, compared to analyst estimates of $748.79 million. During the same quarter in the prior year, the business posted $0.82 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. Sell-side analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current year.

DocuSign announced that its Board of Directors has authorized a share buyback program on Thursday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Jefferies Financial Group lowered their price target on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. lowered their price target on shares of DocuSign from $81.00 to $77.00 and set a “neutral” rating on the stock in a research note on Friday, June 6th. William Blair restated an “outperform” rating on shares of DocuSign in a research note on Monday, April 21st. Citigroup lowered their price objective on shares of DocuSign from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, June 9th. Finally, Wedbush lowered their price objective on shares of DocuSign from $100.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 12th. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $89.77.

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.