11,930 Shares in DocuSign, Inc. (NASDAQ:DOCU) Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC purchased a new position in DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 11,930 shares of the company’s stock, valued at approximately $1,073,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Kestra Investment Management LLC bought a new position in shares of DocuSign during the fourth quarter worth $30,000. Modus Advisors LLC purchased a new position in shares of DocuSign during the fourth quarter valued at about $36,000. First Horizon Advisors Inc. increased its holdings in shares of 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. Avion Wealth lifted its position in shares of DocuSign by 309.2% in the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after buying an additional 368 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its stake in DocuSign by 36.5% during the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after buying an additional 145 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

DocuSign Price Performance

DocuSign stock opened at $72.21 on Friday. The stock has a market cap of $14.62 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. The firm has a 50-day moving average of $86.02 and a two-hundred day moving average of $82.17. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DOCU shares. Citigroup upped their price objective on DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Jefferies Financial Group lowered their price objective on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Wells Fargo & Company boosted their target price on shares of DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. Bank of America lowered their price target on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Finally, Robert W. Baird set a $93.00 price objective on DocuSign in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, DocuSign presently has a consensus rating of “Hold” and an average target price of $95.83.

Insider Transactions at DocuSign

In other news, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the transaction, the director now owns 150,253 shares of the company’s stock, valued at $13,712,088.78. The trade was a 6.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total transaction of $609,825.00. Following the sale, the insider now directly owns 45,875 shares of the company’s stock, valued at $3,730,096.25. The trade was a 14.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 57,851 shares of company stock valued at $4,911,319. Corporate 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.