Moors & Cabot Inc. Buys Shares of 2,630 DocuSign, Inc. (NASDAQ:DOCU)

Moors & Cabot Inc. bought a new stake in DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,630 shares of the company’s stock, valued at approximately $237,000.

Other large investors have also recently bought and sold shares of the company. Kestra Investment Management LLC bought a new position in DocuSign in the fourth quarter valued at about $30,000. First Horizon Advisors Inc. raised its position in shares of DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after acquiring an additional 201 shares during the last quarter. Modus Advisors LLC bought a new position in shares of DocuSign during the fourth quarter worth about $36,000. Itau Unibanco Holding S.A. bought a new position in shares of DocuSign during the third quarter worth about $28,000. Finally, Avion Wealth raised its position in shares of DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after acquiring an additional 368 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DOCU. UBS Group lowered their price objective on DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday. Bank of America lowered their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday. JPMorgan Chase & Co. upgraded DocuSign from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Jefferies Financial Group raised their target price on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, DocuSign presently has an average rating of “Hold” and an average target price of $95.58.

Insider Activity at DocuSign

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the transaction, the chief financial officer now owns 77,851 shares of the company’s stock, valued at $6,765,251.90. The trade was a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the transaction, the chief executive officer now directly owns 156,050 shares in the company, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,888 shares of company stock valued at $8,856,718 over the last 90 days. Insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

Shares of DocuSign stock opened at $85.76 on Monday. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The stock has a 50 day moving average price of $87.97 and a two-hundred day moving average price of $79.52. The stock has a market capitalization of $17.33 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.86 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 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 firm posted $0.76 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current 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.