Inspire Advisors LLC Increases Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Inspire Advisors LLC grew its stake in DocuSign, Inc. (NASDAQ:DOCU) by 56.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,830 shares of the company’s stock after buying an additional 4,287 shares during the quarter. Inspire Advisors LLC’s holdings in DocuSign were worth $704,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in DOCU. New York State Teachers Retirement System boosted its stake in shares of DocuSign by 0.9% in the fourth quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock valued at $1,087,000 after buying an additional 163 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in DocuSign by 2.7% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock valued at $415,000 after purchasing an additional 184 shares during the last quarter. Whittier Trust Co. increased its stake in DocuSign by 28.8% during the fourth quarter. Whittier Trust Co. now owns 935 shares of the company’s stock worth $56,000 after acquiring an additional 209 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in DocuSign by 0.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,899 shares of the company’s stock worth $4,617,000 after acquiring an additional 239 shares during the last quarter. Finally, SeaCrest Wealth Management LLC boosted its holdings in DocuSign by 2.2% in the 1st quarter. SeaCrest Wealth Management LLC now owns 11,327 shares of the company’s stock worth $675,000 after acquiring an additional 240 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DOCU. Royal Bank of Canada dropped their target price on DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a research report on Friday, June 7th. Citigroup decreased their target price on DocuSign from $93.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. UBS Group raised DocuSign from a “sell” rating to a “neutral” rating and upped their target price for the company from $48.00 to $62.00 in a report on Friday, April 12th. Morgan Stanley reduced their price objective on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. Finally, Piper Sandler reduced their price objective on DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $59.36.

Insider Activity at DocuSign

In other DocuSign news, CEO Allan C. Thygesen sold 8,086 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total transaction of $454,109.76. Following the completion of the transaction, the chief executive officer now owns 99,546 shares of the company’s stock, valued at $5,590,503.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other DocuSign news, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction on Friday, May 31st. The shares were sold at an average price of $54.92, for a total value of $27,405.08. Following the sale, the director now directly owns 6,668 shares in the company, valued at approximately $366,206.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 8,086 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $56.16, for a total transaction of $454,109.76. Following the completion of the sale, the chief executive officer now owns 99,546 shares in the company, valued at $5,590,503.36. The disclosure for this sale can be found here. Insiders have sold a total of 117,518 shares of company stock valued at $6,149,670 over the last 90 days. 1.66% of the stock is owned by insiders.

DocuSign Price Performance

Shares of DOCU traded down $0.20 during trading hours on Tuesday, hitting $56.94. The stock had a trading volume of 584,310 shares, compared to its average volume of 2,915,606. The firm has a 50 day simple moving average of $54.98 and a 200-day simple moving average of $56.31. The firm has a market capitalization of $11.66 billion, a P/E ratio of 109.88, a price-to-earnings-growth ratio of 4.69 and a beta of 0.94. DocuSign, Inc. has a 1-year low of $38.11 and a 1-year high of $64.76.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, June 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.20 by $0.09. The firm had revenue of $709.64 million for the quarter, compared to analysts’ expectations of $706.07 million. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. Equities analysts predict that DocuSign, Inc. will post 0.88 EPS for the current fiscal 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.