Wealth Enhancement Advisory Services LLC Grows Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Wealth Enhancement Advisory Services LLC raised its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 17.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,215 shares of the company’s stock after buying an additional 2,612 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in DocuSign were worth $1,548,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DOCU. Kestra Investment Management LLC purchased a new position in DocuSign in the 4th quarter worth about $30,000. First Horizon Advisors Inc. boosted its holdings in DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares during the last quarter. Wood Tarver Financial Group LLC purchased a new stake in DocuSign during the 4th quarter valued at $37,000. McIlrath & Eck LLC lifted its holdings in DocuSign by 476.0% in the fourth quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock valued at $39,000 after acquiring an additional 357 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of DocuSign by 490.0% during the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company’s stock valued at $42,000 after purchasing an additional 392 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

DocuSign Stock Down 19.0%

Shares of NASDAQ:DOCU opened at $75.28 on Friday. The business’s 50 day moving average is $82.08 and its 200 day moving average is $86.22. The stock has a market cap of $15.24 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, June 5th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.81 by $0.09. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $763.65 million for the quarter, compared to analyst estimates of $748.79 million. During the same quarter last year, the firm posted $0.82 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, sell-side analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

DocuSign announced that its Board of Directors has approved a share buyback program on Thursday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DOCU shares. HSBC upgraded DocuSign from a “reduce” rating to a “hold” rating and set a $70.00 price target for the company in a research note on Friday, April 11th. JMP Securities reissued a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research note on Tuesday. Hsbc Global Res upgraded DocuSign from a “moderate sell” rating to a “hold” rating in a report on Friday, April 11th. William Blair reissued an “outperform” rating on shares of DocuSign in a report on Monday, April 21st. Finally, Citigroup lifted their price objective on shares of DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.15.

Insider Activity at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the sale, the director now owns 8,270 shares in the company, valued at approximately $722,880.70. The trade was a 6.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of DocuSign stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the completion of the sale, the chief financial officer now owns 93,960 shares of the company’s stock, valued at $7,817,472. This trade represents a 14.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,851 shares of company stock valued at $3,912,239 over the last ninety days. 1.01% of the stock is owned by company insiders.

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.