Total Wealth Planning & Management Inc. Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)
Total Wealth Planning & Management Inc. acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU) during the 4th quarter, purchasing 3,472 shares valued at approximately $312,000. Other hedge funds also increased their positions in DocuSign. The stock is currently down 2.2%, trading at $84.61, with a market cap of $17.13 billion. Analysts have mixed ratings, with price targets ranging from $65.00 to $100.00. Insider trading activity includes significant sales by executives, with insiders owning 1.01% of the company.
Total Wealth Planning & Management Inc. purchased a new stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,472 shares of the company's stock, valued at approximately $312,000.
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A number of other hedge funds also recently made changes to their positions in the stock. Kestra Investment Management LLC bought a new stake in DocuSign in the fourth quarter valued at approximately $30,000. First Horizon Advisors Inc. lifted its position in shares of DocuSign by 102.6% in the 4th 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 period. McIlrath & Eck LLC boosted its stake in shares of DocuSign by 476.0% in the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock valued at $39,000 after purchasing an additional 357 shares during the last quarter. Bessemer Group Inc. increased its position in shares of DocuSign by 490.0% during the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company's stock worth $42,000 after buying an additional 392 shares during the period. Finally, Avion Wealth increased its position in shares of DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company's stock worth $43,000 after buying an additional 368 shares during the period. 77.64% of the stock is currently owned by institutional investors.
DocuSign Stock Down 2.2%
Shares of DOCU opened at $84.61 on Tuesday. The business's fifty day moving average is $81.74 and its 200 day moving average is $85.85. DocuSign, Inc. has a 12-month low of $48.70 and a 12-month high of $107.86. The stock has a market cap of $17.13 billion, a P/E ratio of 17.45, a P/E/G ratio of 6.94 and a beta of 1.21.
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DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business's revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 earnings per share. On average, analysts expect that DocuSign, Inc. will post 1.17 EPS for the current year.
Insider Buying and Selling
In other DocuSign news, insider Robert Chatwani sold 15,706 shares of DocuSign stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the transaction, the insider now directly owns 76,842 shares of the company's stock, valued at $6,392,485.98. The trade was a 16.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $76.09, for a total transaction of $608,720.00. Following the completion of the sale, the chief financial officer now owns 86,156 shares of the company's stock, valued at approximately $6,555,610.04. The trade was a 8.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock worth $3,912,239 in the last quarter. Insiders own 1.01% of the company's stock.
Analysts Set New Price Targets
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A number of analysts have commented on the stock. Wedbush reaffirmed a "neutral" rating and set a $100.00 price target on shares of DocuSign in a research report on Friday, March 14th. Wells Fargo & Company lowered their price objective on DocuSign from $73.00 to $65.00 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. William Blair restated an "outperform" rating on shares of DocuSign in a research report on Monday, April 21st. Bank of America decreased their target price on DocuSign from $112.00 to $98.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Finally, Citigroup boosted their price target on DocuSign from $113.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $92.46.
Check Out Our Latest Analysis on DOCU
About DocuSign
(Free Report)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.
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Want to see what other hedge funds are holding DOCU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DocuSign, Inc. (NASDAQ:DOCU - Free Report).
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