LPL Financial LLC Purchases 23,181 Shares of DocuSign, Inc. (NASDAQ:DOCU)

LPL Financial LLC grew its position in DocuSign, Inc. (NASDAQ:DOCU) by 12.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 209,927 shares of the company’s stock after buying an additional 23,181 shares during the period. LPL Financial LLC owned 0.10% of DocuSign worth $18,881,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DOCU. Citizens Financial Group Inc. RI lifted its position in DocuSign by 2.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock valued at $539,000 after acquiring an additional 133 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in shares of DocuSign by 20.9% during the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock valued at $72,000 after purchasing an additional 138 shares during the last quarter. Synergy Financial Group LTD boosted its position in shares of DocuSign by 3.4% in the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock worth $381,000 after purchasing an additional 140 shares in the last quarter. M&T Bank Corp grew its stake in DocuSign by 1.3% during the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock worth $975,000 after buying an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC increased its position in DocuSign by 36.5% during the 4th quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after buying an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several recent analyst reports. Wells Fargo & Company raised their price target on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. UBS Group lowered their target price on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Morgan Stanley upped their price target on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, March 14th. Finally, JMP Securities reissued a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $95.83.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the completion of the transaction, the chief executive officer now owns 156,050 shares in the company, valued at $14,050,742. The trade was a 20.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Solvik sold 10,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $91.26, for a total value of $912,600.00. Following the transaction, the director now owns 150,253 shares in the company, valued at $13,712,088.78. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,851 shares of company stock worth $8,579,369 in the last three months. Company insiders own 1.66% of the company’s stock.

DocuSign Stock Down 2.1 %

Shares of DOCU stock opened at $81.40 on Tuesday. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The stock has a market cap of $16.48 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The business has a 50-day simple moving average of $87.01 and a 200-day simple moving average of $81.71.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same period in the previous year, the company posted $0.76 earnings per share. DocuSign’s revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

About DocuSign

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.