Kestra Private Wealth Services LLC raised its stake in DocuSign, Inc. (NASDAQ:DOCU – Get Rating) by 16.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,774 shares of the company’s stock after buying an additional 832 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in DocuSign were worth $619,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. HM Payson & Co. boosted its holdings in DocuSign by 102.8% during the fourth quarter. HM Payson & Co. now owns 217 shares of the company’s stock worth $33,000 after buying an additional 110 shares during the last quarter. Covestor Ltd bought a new position in DocuSign during the fourth quarter worth about $40,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in DocuSign by 440.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock valued at $28,000 after purchasing an additional 220 shares in the last quarter. Clearstead Advisors LLC increased its stake in DocuSign by 1,300.0% in the fourth quarter. Clearstead Advisors LLC now owns 280 shares of the company’s stock valued at $43,000 after purchasing an additional 260 shares in the last quarter. Finally, EverSource Wealth Advisors LLC bought a new stake in DocuSign in the fourth quarter valued at approximately $47,000. Institutional investors own 76.18% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Royal Bank of Canada downgraded shares of DocuSign from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $80.00 to $65.00 in a research note on Monday, August 22nd. Morgan Stanley reduced their target price on DocuSign from $80.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday, June 10th. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and set a $65.00 target price for the company in a research note on Friday, September 9th. William Blair cut DocuSign from an “outperform” rating to a “market perform” rating in a research note on Friday, June 10th. Finally, Bank of America cut DocuSign from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $120.00 to $72.00 in a research note on Friday, June 10th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $65.75.
DocuSign Price Performance
DocuSign (NASDAQ:DOCU – Get Rating) last announced its quarterly earnings data on Thursday, September 8th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $622.18 million during the quarter, compared to analysts’ expectations of $602.25 million. DocuSign had a negative return on equity of 21.74% and a negative net margin of 4.65%. DocuSign’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) EPS. As a group, sell-side analysts predict that DocuSign, Inc. will post -0.45 earnings per share for the current fiscal year.
DocuSign, Inc provides electronic signature software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they're signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.
- Get a free copy of the StockNews.com research report on DocuSign (DOCU)
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