DocuSign, Inc. (NASDAQ:DOCU) Stake Lowered by Acorn Financial Advisory Services Inc. ADV

Acorn Financial Advisory Services Inc. ADV lessened its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 5.0% in the 4th quarter, Holdings Channel reports. The firm owned 14,035 shares of the company’s stock after selling 734 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in DocuSign were worth $1,262,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. FMR LLC grew its stake in shares of DocuSign by 178.2% during the fourth quarter. FMR LLC now owns 6,101,024 shares of the company’s stock worth $548,726,000 after purchasing an additional 3,908,139 shares during the period. Invesco Ltd. increased its position in shares of DocuSign by 283.9% during the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock worth $310,048,000 after purchasing an additional 2,549,310 shares during the last quarter. Norges Bank acquired a new stake in DocuSign in the fourth quarter valued at $223,196,000. Arrowstreet Capital Limited Partnership grew its holdings in DocuSign by 201.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock worth $194,118,000 after purchasing an additional 1,442,639 shares during the period. Finally, Jericho Capital Asset Management L.P. raised its stake in DocuSign by 34.0% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock valued at $427,642,000 after acquiring an additional 1,205,500 shares during the period. Institutional investors own 77.64% of the company’s stock.

Insider Activity

In related news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the transaction, the director now owns 8,270 shares in the company, valued at $722,880.70. The trade was a 6.07 % decrease in their position. 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 business’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total value of $608,720.00. Following the sale, the chief financial officer now 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,851 shares of company stock valued at $4,607,439. 1.66% of the stock is currently owned by insiders.

DocuSign Trading Down 1.1 %

DocuSign stock opened at $80.85 on Friday. The stock has a fifty day simple moving average of $80.07 and a two-hundred day simple moving average of $83.93. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86. The firm has a market cap of $16.37 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 6.94 and a beta of 1.20.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wedbush restated a “neutral” rating and set a $100.00 price objective on shares of DocuSign in a research note on Friday, March 14th. Hsbc Global Res upgraded DocuSign from a “moderate sell” rating to a “hold” rating in a report on Friday, April 11th. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. UBS Group lowered their price objective on shares of DocuSign from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Finally, JMP Securities restated a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, DocuSign presently has an average rating of “Hold” and an average target price of $92.46.

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.