Silvercrest Asset Management Group LLC Purchases New Shares in DocuSign, Inc. (NASDAQ:DOCU)

Silvercrest Asset Management Group LLC acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 89,086 shares of the company's stock, valued at approximately $8,012,000.

A number of other institutional investors have also recently added to or reduced their stakes in DOCU. Kestra Investment Management LLC purchased a new stake in DocuSign during the fourth quarter worth about $30,000. First Horizon Advisors Inc. boosted its holdings in DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after buying an additional 201 shares in the last quarter. Bessemer Group Inc. raised its position in DocuSign by 490.0% during the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company's stock worth $42,000 after acquiring an additional 392 shares during the last quarter. Avion Wealth raised its position in 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 during the last quarter. Finally, Avior Wealth Management LLC raised its position in DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company's stock worth $49,000 after acquiring an additional 145 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, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 86,156 shares of the company's stock, valued at $6,555,610.04. This trade represents a 8.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the completion of the sale, the insider now directly owns 76,842 shares of the company's stock, valued at $6,392,485.98. The trade was a 16.97% 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 valued at $3,912,239 over the last quarter. Company insiders own 1.01% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. HSBC upgraded shares of DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 target price for the company in a research report on Friday, April 11th. Citigroup lifted their target price on shares of DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. JPMorgan Chase & Co. upgraded shares of DocuSign from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Robert W. Baird set a $93.00 target price on shares of DocuSign in a research report on Friday, March 14th. Finally, Bank of America cut their target price on shares of DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $92.46.

DocuSign Stock Down 2.2%

Shares of DOCU traded down $1.92 on Friday, hitting $84.61. 1,338,670 shares of the stock traded hands, compared to its average volume of 2,769,233. The firm has a market capitalization of $17.13 billion, a P/E ratio of 17.45, a P/E/G ratio of 6.94 and a beta of 1.21. The stock's 50 day moving average is $81.76 and its two-hundred day moving average is $85.75. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

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

DocuSign Company 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.