O Shaughnessy Asset Management LLC Acquires 11,455 Shares of DocuSign, Inc. (NASDAQ:DOCU)

O Shaughnessy Asset Management LLC lifted its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 111.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,712 shares of the company’s stock after acquiring an additional 11,455 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in DocuSign were worth $1,953,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Kestra Investment Management LLC acquired a new position in shares of DocuSign in the fourth quarter valued at $30,000. First Horizon Advisors Inc. grew its stake in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock valued at $36,000 after buying an additional 201 shares during the last quarter. Modus Advisors LLC acquired a new position in DocuSign in the 4th quarter valued at about $36,000. Avion Wealth raised its holdings in DocuSign by 309.2% in the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after acquiring an additional 368 shares during the period. Finally, Avior Wealth Management LLC lifted its position in DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock worth $49,000 after acquiring an additional 145 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DOCU has been the topic of several research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price target on shares of DocuSign in a research note on Friday, March 14th. JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. JMP Securities reiterated a “market outperform” rating and issued a $124.00 price target on shares of DocuSign in a research report on Tuesday, January 7th. Robert W. Baird set a $93.00 price target on DocuSign in a research report on Friday, March 14th. Finally, Bank of America dropped their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $95.83.

DocuSign Stock Performance

Shares of NASDAQ:DOCU opened at $72.21 on Friday. The company has a fifty day moving average of $86.02 and a 200-day moving average of $81.98. The company has a market capitalization of $14.62 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $776.25 million during the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 EPS. On average, equities analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert Chatwani sold 15,706 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the transaction, the insider now owns 76,842 shares in the company, valued at $6,392,485.98. The trade was a 16.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total value of $609,825.00. Following the transaction, the insider now owns 45,875 shares in the company, valued at $3,730,096.25. The trade was a 14.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,851 shares of company stock worth $4,911,319 in the last ninety days. Company insiders own 1.66% of the company’s stock.

DocuSign Company 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.