Avantax Advisory Services Inc. Has $1.50 Million Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Avantax Advisory Services Inc. raised its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,683 shares of the company’s stock after purchasing an additional 368 shares during the period. Avantax Advisory Services Inc.’s holdings in DocuSign were worth $1,500,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its position in DocuSign by 30.3% during the 3rd quarter. Toronto Dominion Bank now owns 26,159 shares of the company’s stock valued at $1,624,000 after purchasing an additional 6,081 shares during the period. Charles Schwab Investment Management Inc. lifted its position in DocuSign by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after purchasing an additional 16,014 shares during the period. Quantinno Capital Management LP lifted its position in DocuSign by 39.5% during the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock valued at $12,514,000 after purchasing an additional 57,104 shares during the period. Rhumbline Advisers lifted its position in DocuSign by 118.8% during the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after purchasing an additional 330,136 shares during the period. Finally, KBC Group NV lifted its position in DocuSign by 32.7% during the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after purchasing an additional 378,233 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of research reports. Piper Sandler upped their target price on shares of DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. UBS Group lowered their price target on DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. HSBC reaffirmed a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a research note on Friday, December 6th. Finally, Robert W. Baird set a $93.00 price target on DocuSign in a research note on Friday. 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $95.00.

DocuSign Stock Performance

NASDAQ DOCU opened at $85.01 on Wednesday. The business has a 50 day simple moving average of $87.75 and a 200 day simple moving average of $79.87. DocuSign, Inc. has a 52-week low of $48.70 and a 52-week high of $107.86. The stock has a market cap of $17.17 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 6.94 and a beta of 1.02.

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

Insider Transactions at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the transaction, the director now directly owns 8,270 shares of the company’s stock, valued at $722,880.70. This trade represents a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the transaction, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at $14,050,742. This represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,034 shares of company stock valued at $5,932,352 in the last ninety days. 1.66% of the stock is currently owned by corporate insiders.

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.