Janney Montgomery Scott LLC Has $1.46 Million Position in Docusign Inc. $DOCU

Janney Montgomery Scott LLC grew its position in Docusign Inc. (NASDAQ:DOCU) by 116.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,796 shares of the company’s stock after purchasing an additional 16,591 shares during the period. Janney Montgomery Scott LLC’s holdings in Docusign were worth $1,460,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC grew its stake in Docusign by 36.4% in the first quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after acquiring an additional 2,457 shares during the period. Guggenheim Capital LLC increased its stake in Docusign by 6.7% during the 2nd quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock worth $899,000 after purchasing an additional 729 shares in the last quarter. State Street Corp raised its holdings in Docusign by 3.0% during the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after buying an additional 236,494 shares during the period. Sei Investments Co. lifted its stake in Docusign by 60.7% in the second quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock valued at $3,146,000 after buying an additional 15,247 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Docusign by 51.0% during the second quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock worth $14,735,000 after acquiring an additional 63,911 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Stock Up 0.9%

DOCU stock opened at $49.18 on Friday. The business has a 50 day moving average price of $47.05 and a two-hundred day moving average price of $50.17. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 1.44 and a beta of 0.90. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $86.65.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The company had revenue of $830.24 million for the quarter, compared to analysts’ expectations of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 EPS. On average, equities research analysts anticipate that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Docusign declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 21% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DOCU. Citigroup upped their target price on shares of Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, June 5th. Citizens Jmp reduced their price target on Docusign from $124.00 to $86.00 and set a “market outperform” rating for the company in a research report on Wednesday, March 18th. Robert W. Baird decreased their price target on shares of Docusign from $75.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Wells Fargo & Company cut their price objective on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, June 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Docusign from $78.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Docusign presently has a consensus rating of “Hold” and an average price target of $60.27.

Insider Buying and Selling at Docusign

In other Docusign news, CEO Allan C. Thygesen sold 26,250 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $46.02, for a total transaction of $1,208,025.00. Following the sale, the chief executive officer directly owned 159,038 shares of the company’s stock, valued at approximately $7,318,928.76. This represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Jeffrey Grayson sold 15,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.55, for a total transaction of $683,250.00. Following the completion of the sale, the chief financial officer owned 141,429 shares of the company’s stock, valued at approximately $6,442,090.95. This represents a 9.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 76,695 shares of company stock valued at $3,476,002 in the last 90 days. Company insiders own 0.59% of the company’s stock.

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.