Envestnet Asset Management Inc. Grows Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Envestnet Asset Management Inc. raised its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 42.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 180,054 shares of the company's stock after purchasing an additional 54,023 shares during the quarter. Envestnet Asset Management Inc. owned 0.09% of DocuSign worth $16,194,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in DocuSign during the 4th quarter valued at $30,000. Modus Advisors LLC purchased a new position in DocuSign during the 4th quarter valued at about $36,000. First Horizon Advisors Inc. raised its position in DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after purchasing an additional 201 shares during the last quarter. Avion Wealth lifted its holdings in DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after buying an additional 368 shares during the period. Finally, Avior Wealth Management LLC grew its position in shares of DocuSign by 36.5% in the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock worth $49,000 after buying an additional 145 shares during the last quarter. Institutional investors own 77.64% of the company's stock.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total transaction of $608,720.00. Following the completion of the sale, the chief financial officer now directly owns 86,156 shares in the company, valued at approximately $6,555,610.04. The trade was a 8.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the transaction, the insider now directly owns 76,842 shares in the company, valued at $6,392,485.98. The trade was a 16.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,851 shares of company stock valued at $4,607,439. 1.66% of the stock is owned by insiders.

DocuSign Stock Performance

Shares of NASDAQ:DOCU traded down $0.97 during trading on Friday, reaching $75.42. 1,308,166 shares of the stock traded hands, compared to its average volume of 2,740,164. The stock has a market cap of $15.27 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. The stock has a 50-day moving average of $81.35 and a two-hundred day moving average of $83.38. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 EPS. Sell-side analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Analysts Set New Price Targets

DOCU has been the subject of a number of recent analyst reports. Needham & Company LLC restated a "hold" rating on shares of DocuSign in a report on Thursday. Wells Fargo & Company lifted their target price on shares of DocuSign from $70.00 to $73.00 and gave the company an "underweight" rating in a research note on Friday, March 14th. JMP Securities reissued a "market outperform" rating and issued a $124.00 price target on shares of DocuSign in a research note on Thursday. Wedbush reaffirmed a "neutral" rating and set a $100.00 price objective on shares of DocuSign in a research report on Friday, March 14th. Finally, Citigroup increased their target price on DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $93.08.

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.