RWA Wealth Partners LLC Takes Position in Docusign Inc. $DOCU

RWA Wealth Partners LLC purchased a new position in shares of Docusign Inc. (NASDAQ:DOCU) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 15,725 shares of the company’s stock, valued at approximately $1,134,000.

A number of other hedge funds have also added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its holdings in shares of Docusign by 36.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after purchasing an additional 2,457 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of Docusign during the 2nd quarter worth $129,000. Wealthfront Advisers LLC raised its holdings in shares of Docusign by 8.1% during the 2nd quarter. Wealthfront Advisers LLC now owns 3,983 shares of the company’s stock worth $310,000 after buying an additional 297 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Docusign by 58.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 281,525 shares of the company’s stock worth $21,928,000 after buying an additional 104,293 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Docusign by 6.8% in the second quarter. Jennison Associates LLC now owns 708,149 shares of the company’s stock valued at $55,158,000 after buying an additional 45,332 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DOCU has been the subject of several research analyst reports. Zacks Research downgraded Docusign from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Wedbush decreased their price target on shares of Docusign from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Needham & Company LLC reissued a “hold” rating on shares of Docusign in a research note on Wednesday, December 17th. BTIG Research cut their target price on shares of Docusign from $88.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Finally, Piper Sandler decreased their target price on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Five investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Docusign presently has an average rating of “Hold” and an average target price of $78.80.

Docusign Price Performance

Shares of NASDAQ DOCU opened at $45.72 on Friday. The company has a 50 day simple moving average of $56.58 and a 200 day simple moving average of $66.79. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $94.67. The firm has a market cap of $9.16 billion, a PE ratio of 31.97, a price-to-earnings-growth ratio of 1.89 and a beta of 1.00.

Insider Transactions at Docusign

In other news, insider Robert Chatwani sold 13,818 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $68.33, for a total transaction of $944,183.94. Following the completion of the transaction, the insider owned 70,197 shares of the company’s stock, valued at approximately $4,796,561.01. This trade represents a 16.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction on Friday, January 9th. The stock was sold at an average price of $69.60, for a total transaction of $1,827,000.00. Following the transaction, the chief executive officer owned 142,261 shares in the company, valued at approximately $9,901,365.60. This trade represents a 15.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 77,927 shares of company stock worth $5,349,005. 1.01% of the stock is currently owned by insiders.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.