Advisory Services Network LLC Cuts Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Advisory Services Network LLC lowered its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,812 shares of the company's stock after selling 9,774 shares during the quarter. Advisory Services Network LLC's holdings in DocuSign were worth $2,501,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DOCU. Kestra Investment Management LLC acquired a new position in shares of DocuSign during the 4th quarter worth $30,000. Modus Advisors LLC bought a new stake in shares of DocuSign during the 4th quarter valued at $36,000. First Horizon Advisors Inc. raised its stake in DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after purchasing an additional 201 shares in the last quarter. Avion Wealth raised its stake in shares of DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after acquiring an additional 368 shares in the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock valued at $49,000 after acquiring an additional 145 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

DOCU has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on DocuSign from $70.00 to $73.00 and gave the stock an "underweight" rating in a report on Friday, March 14th. Bank of America dropped their price target on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. JMP Securities restated a "market outperform" rating and set a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. UBS Group cut their price objective on shares of DocuSign from $100.00 to $90.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Finally, Robert W. Baird set a $93.00 target price on DocuSign in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $93.46.

Insider Activity

In related news, Director Teresa Briggs sold 534 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares in the company, valued at $722,880.70. This represents a 6.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the completion of the transaction, the chief financial officer now owns 77,851 shares of the company's stock, valued at approximately $6,765,251.90. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,851 shares of company stock valued at $3,998,719 over the last three months. Corporate insiders own 1.66% of the company's stock.

DocuSign Trading Up 0.0 %

Shares of DocuSign stock traded up $0.01 during trading hours on Wednesday, reaching $77.50. 747,951 shares of the company's stock were exchanged, compared to its average volume of 2,719,699. The company has a 50 day moving average of $82.19 and a two-hundred day moving average of $82.95. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The stock has a market cap of $15.69 billion, a P/E ratio of 15.98, a P/E/G ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported $0.86 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 company had revenue of $776.25 million during the quarter, compared to analysts' expectations of $760.94 million. During the same period in the previous year, the company earned $0.76 EPS. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, analysts expect that DocuSign, Inc. will post 1.17 earnings per share 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.