Legacy Financial Advisors Inc. Invests $301,000 in DocuSign, Inc. (NASDAQ:DOCU)

Legacy Financial Advisors Inc. bought a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,068 shares of the company’s stock, valued at approximately $301,000.

A number of other institutional investors have also recently made changes to their positions in the business. Capital Analysts LLC increased its position in DocuSign by 781.7% during the fourth quarter. Capital Analysts LLC now owns 529 shares of the company’s stock valued at $31,000 after acquiring an additional 469 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in DocuSign during the 4th quarter valued at about $32,000. BluePath Capital Management LLC purchased a new stake in DocuSign in the 3rd quarter worth about $32,000. Performa Ltd US LLC lifted its stake in DocuSign by 50.0% in the third quarter. Performa Ltd US LLC now owns 825 shares of the company’s stock worth $35,000 after purchasing an additional 275 shares during the last quarter. Finally, Whittier Trust Co. lifted its stake in DocuSign by 28.8% in the fourth quarter. Whittier Trust Co. now owns 935 shares of the company’s stock worth $56,000 after purchasing an additional 209 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DOCU shares. Needham & Company LLC reiterated a “hold” rating on shares of DocuSign in a report on Friday, April 12th. JMP Securities reiterated a “market outperform” rating and issued a $84.00 target price on shares of DocuSign in a research note on Friday, April 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $59.00 target price on shares of DocuSign in a research note on Friday, April 12th. UBS Group raised shares of DocuSign from a “sell” rating to a “neutral” rating and raised their price target for the stock from $48.00 to $62.00 in a research note on Friday, April 12th. Finally, Morgan Stanley upgraded shares of DocuSign from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $49.00 to $64.00 in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus price target of $60.25.

DocuSign Stock Up 1.8 %

Shares of NASDAQ DOCU traded up $1.04 during mid-day trading on Friday, reaching $59.80. 1,294,556 shares of the company were exchanged, compared to its average volume of 1,390,186. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76. The firm has a 50-day moving average of $57.24 and a 200 day moving average of $53.30. The stock has a market cap of $12.28 billion, a price-to-earnings ratio of 166.11, a P/E/G ratio of 5.17 and a beta of 0.88.

DocuSign (NASDAQ:DOCU) last announced its earnings results on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. The business had revenue of $712.39 million during the quarter, compared to the consensus estimate of $698.05 million. On average, equities analysts forecast that DocuSign, Inc. will post 0.87 earnings per share for the current year.

Insider Buying and Selling at DocuSign

In other news, Director Teresa Briggs sold 499 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total transaction of $26,442.01. Following the transaction, the director now directly owns 6,169 shares of the company’s stock, valued at $326,895.31. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Teresa Briggs sold 499 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $52.99, for a total transaction of $26,442.01. Following the transaction, the director now directly owns 6,169 shares in the company, valued at approximately $326,895.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 7,765 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $53.31, for a total value of $413,952.15. Following the transaction, the chief executive officer now directly owns 104,002 shares in the company, valued at $5,544,346.62. The disclosure for this sale can be found here. Insiders sold a total of 55,277 shares of company stock worth $3,159,756 over the last three months. Corporate insiders own 17.80% of the company’s stock.

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.