EverSource Wealth Advisors LLC Has $93,000 Holdings in DocuSign, Inc. (NASDAQ:DOCU)

EverSource Wealth Advisors LLC decreased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 16.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,035 shares of the company’s stock after selling 209 shares during the period. EverSource Wealth Advisors LLC’s holdings in DocuSign were worth $93,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Moors & Cabot Inc. acquired a new stake in shares of DocuSign in the fourth quarter worth $237,000. Prosperity Wealth Management Inc. increased its position in DocuSign by 4.0% during the fourth quarter. Prosperity Wealth Management Inc. now owns 7,585 shares of the company’s stock worth $682,000 after acquiring an additional 295 shares during the period. AGF Management Ltd. bought a new position in DocuSign during the fourth quarter worth $418,000. Wealthfront Advisers LLC raised its stake in DocuSign by 200.8% during the 4th quarter. Wealthfront Advisers LLC now owns 11,666 shares of the company’s stock valued at $1,049,000 after purchasing an additional 7,788 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its holdings 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 purchasing an additional 133 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DOCU. William Blair raised shares of DocuSign from a “market perform” rating to an “outperform” rating in a research report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a research report on Friday, March 14th. Bank of America lowered their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Piper Sandler lifted their price target on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Robert W. Baird set a $93.00 price objective on shares of DocuSign in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $95.00.

DocuSign Price Performance

Shares of DOCU opened at $85.01 on Wednesday. The company has a market capitalization of $17.17 billion, a P/E ratio of 17.53, a PEG ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The business’s 50 day simple moving average is $87.75 and its 200-day simple moving average is $79.87.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The company 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 firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $0.76 earnings per share. On average, sell-side analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insider Transactions at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction on Monday, March 17th. The stock was 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 owns 8,270 shares in the company, valued at $722,880.70. The trade was a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 dated 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 in the company, valued at approximately $6,765,251.90. This represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,034 shares of company stock worth $5,932,352. Corporate insiders own 1.66% of the company’s stock.

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.