Prosperity Wealth Management Inc. Takes $284,000 Position in DocuSign, Inc. (NASDAQ:DOCU)

Prosperity Wealth Management Inc. bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,785 shares of the company’s stock, valued at approximately $284,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DOCU. Vanguard Group Inc. grew its holdings in DocuSign by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 20,982,387 shares of the company’s stock valued at $881,260,000 after buying an additional 482,472 shares in the last quarter. Capital World Investors grew its stake in DocuSign by 128.3% during the first quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock valued at $608,853,000 after acquiring an additional 3,193,727 shares in the last quarter. Morgan Stanley increased its holdings in DocuSign by 1.7% in the 3rd quarter. Morgan Stanley now owns 3,219,450 shares of the company’s stock valued at $135,217,000 after acquiring an additional 53,553 shares during the last quarter. Clearbridge Investments LLC lifted its stake in DocuSign by 1.9% in the 1st quarter. Clearbridge Investments LLC now owns 3,186,783 shares of the company’s stock worth $341,368,000 after purchasing an additional 58,555 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of DocuSign by 0.3% during the 1st quarter. Renaissance Technologies LLC now owns 2,872,900 shares of the company’s stock valued at $167,490,000 after purchasing an additional 8,300 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Insider Buying and Selling at DocuSign

In other DocuSign news, Director Teresa Briggs sold 499 shares of DocuSign stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $52.99, for a total transaction of $26,442.01. Following the completion of the transaction, the director now owns 6,169 shares in the company, valued at approximately $326,895.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Allan C. Thygesen sold 7,765 shares of DocuSign stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.31, for a total value of $413,952.15. Following the completion of the transaction, the chief executive officer now owns 104,002 shares in the company, valued at approximately $5,544,346.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Teresa Briggs sold 499 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $52.99, for a total value of $26,442.01. Following the completion of the sale, the director now owns 6,169 shares of the company’s stock, valued at $326,895.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,871 shares of company stock valued at $3,176,199. 17.80% of the stock is owned by insiders.

DocuSign Stock Down 0.3 %

Shares of DocuSign stock traded down $0.19 on Wednesday, reaching $57.55. 314,685 shares of the stock were exchanged, compared to its average volume of 3,426,473. The business has a 50 day moving average price of $55.55 and a two-hundred day moving average price of $51.95. The firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of 160.39, a PEG ratio of 4.95 and a beta of 0.89. DocuSign, Inc. has a twelve month low of $38.11 and a twelve month high of $64.76.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.09 by $0.06. The business had revenue of $712.39 million during the quarter, compared to analysts’ expectations of $698.05 million. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. Research analysts forecast that DocuSign, Inc. will post 0.86 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DOCU shares. Morgan Stanley raised DocuSign from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $49.00 to $64.00 in a report on Tuesday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $59.00 price objective on shares of DocuSign in a report on Friday, April 12th. UBS Group upgraded DocuSign from a “sell” rating to a “neutral” rating and increased their target price for the company from $48.00 to $62.00 in a research report on Friday, April 12th. TheStreet upgraded shares of DocuSign from a “d+” rating to a “c-” rating in a research report on Tuesday, December 19th. Finally, JMP Securities reiterated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DocuSign has an average rating of “Hold” and a consensus price target of $60.25.

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.