Prospera Financial Services Inc Raises Stock Position in Docusign Inc. $DOCU

Prospera Financial Services Inc increased its stake in Docusign Inc. (NASDAQ:DOCU) by 267.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,210 shares of the company’s stock after acquiring an additional 13,982 shares during the quarter. Prospera Financial Services Inc’s holdings in Docusign were worth $1,314,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Catalyst Funds Management Pty Ltd purchased a new stake in Docusign in the 4th quarter worth $246,000. EverSource Wealth Advisors LLC increased its holdings in Docusign by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,536 shares of the company’s stock worth $105,000 after acquiring an additional 307 shares in the last quarter. Pzena Investment Management LLC acquired a new stake in Docusign during the 4th quarter worth $308,000. BOK Financial Private Wealth Inc. acquired a new stake in Docusign during the 4th quarter worth $110,000. Finally, Mach 1 Financial Group LLC acquired a new stake in Docusign during the 4th quarter worth $500,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on DOCU shares. Citizens Jmp lowered their target price on shares of Docusign from $124.00 to $86.00 and set a “market outperform” rating on the stock in a research note on Wednesday, March 18th. Morgan Stanley lowered their target price on shares of Docusign from $90.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 18th. Royal Bank Of Canada lowered their target price on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 18th. Piper Sandler lowered their target price on shares of Docusign from $75.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Finally, Weiss Ratings cut shares of Docusign from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 15th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.40.

Insider Activity

In other news, insider James P. Shaughnessy sold 12,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $46.83, for a total transaction of $561,960.00. Following the transaction, the insider owned 53,631 shares of the company’s stock, valued at approximately $2,511,539.73. The trade was a 18.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 16,696 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $48.10, for a total transaction of $803,077.60. Following the transaction, the insider directly owned 72,458 shares in the company, valued at approximately $3,485,229.80. The trade was a 18.73% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 64,309 shares of company stock worth $3,061,570. Insiders own 0.59% of the company’s stock.

Docusign Trading Up 2.4%

Shares of DOCU stock opened at $49.58 on Friday. The company’s 50-day moving average price is $47.16 and its 200-day moving average price is $54.74. The stock has a market cap of $9.63 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 1.85 and a beta of 0.88. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $94.67.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. The firm had revenue of $836.86 million for the quarter, compared to analysts’ expectations of $828.23 million. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. As a group, equities research analysts predict that Docusign Inc. will post 1.76 EPS for the current year.

Docusign announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 17th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 21% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Docusign Company Profile

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.