Moran Wealth Management LLC Acquires 4,692 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Moran Wealth Management LLC raised its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 58.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,670 shares of the company’s stock after acquiring an additional 4,692 shares during the period. Moran Wealth Management LLC’s holdings in DocuSign were worth $787,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. J.W. Cole Advisors Inc. increased its position in DocuSign by 2.0% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock worth $493,000 after purchasing an additional 155 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of DocuSign by 0.9% during the third quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock worth $1,088,000 after buying an additional 157 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in shares of DocuSign by 6.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock valued at $187,000 after acquiring an additional 172 shares during the last quarter. Dakota Wealth Management boosted its holdings in shares of DocuSign by 0.8% during the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock valued at $1,232,000 after acquiring an additional 181 shares in the last quarter. Finally, Covestor Ltd grew its position in DocuSign by 5.8% during the 3rd quarter. Covestor Ltd now owns 3,306 shares of the company’s stock worth $205,000 after acquiring an additional 182 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup lifted their price target on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Wells Fargo & Company boosted their target price on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. Bank of America boosted their price objective on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Robert W. Baird raised their target price on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.40.

Insider Transactions at DocuSign

In other DocuSign news, insider Robert Chatwani sold 14,799 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the transaction, the insider now owns 70,748 shares in the company, valued at approximately $3,923,684.08. This represents a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following the sale, the director now owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,558 shares of company stock valued at $4,272,768 in the last 90 days. 1.66% of the stock is currently owned by corporate insiders.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $80.18 on Friday. DocuSign, Inc. has a 1 year low of $42.12 and a 1 year high of $83.68. The business’s 50-day moving average is $68.94 and its 200-day moving average is $60.07. The company has a market capitalization of $16.27 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 8.41 and a beta of 0.90.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The firm had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. During the same period in the prior year, the business earned $0.09 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts anticipate that DocuSign, Inc. will post 1.01 EPS for the current 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.