Belpointe Asset Management LLC Sells 731 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Belpointe Asset Management LLC decreased its holdings in DocuSign, Inc. (NASDAQ:DOCU – Get Rating) by 33.9% in the fourth quarter, Holdings Channel reports. The firm owned 1,427 shares of the company’s stock after selling 731 shares during the quarter. Belpointe Asset Management LLC’s holdings in DocuSign were worth $79,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of DOCU. Westpac Banking Corp boosted its holdings in shares of DocuSign by 188.6% during the 3rd quarter. Westpac Banking Corp now owns 55,632 shares of the company’s stock valued at $2,975,000 after acquiring an additional 36,353 shares during the last quarter. Veriti Management LLC purchased a new stake in shares of DocuSign during the 4th quarter valued at about $239,000. UBS Asset Management Americas Inc. lifted its holdings in shares of DocuSign by 39.3% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 1,427,937 shares of the company’s stock valued at $76,352,000 after buying an additional 402,661 shares during the period. Vanguard Group Inc. lifted its holdings in shares of DocuSign by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 18,481,405 shares of the company’s stock valued at $988,201,000 after buying an additional 207,808 shares during the period. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of DocuSign by 9.6% during the 3rd quarter. Avantax Advisory Services Inc. now owns 14,710 shares of the company’s stock valued at $787,000 after buying an additional 1,287 shares during the period. Institutional investors own 76.18% of the company’s stock.

DocuSign Trading Up 1.1 %

Shares of DOCU stock opened at $53.12 on Friday. The stock’s 50-day moving average price is $53.49 and its 200-day moving average price is $54.54. DocuSign, Inc. has a 12-month low of $39.57 and a 12-month high of $92.04. The stock has a market capitalization of $10.75 billion, a price-to-earnings ratio of -108.41, a price-to-earnings-growth ratio of 15.29 and a beta of 0.98.

DocuSign (NASDAQ:DOCU – Get Rating) last issued its quarterly earnings data on Thursday, March 9th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. DocuSign had a negative return on equity of 7.15% and a negative net margin of 3.87%. The business had revenue of $659.58 million for the quarter, compared to analysts’ expectations of $639.39 million. As a group, research analysts predict that DocuSign, Inc. will post 0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DOCU has been the subject of several research reports. Citigroup upped their price target on shares of DocuSign from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, March 9th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research note on Friday, March 10th. Jefferies Financial Group upped their price objective on DocuSign from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, March 7th. Wells Fargo & Company decreased their target price on DocuSign from $65.00 to $60.00 in a report on Friday, March 10th. Finally, Piper Sandler cut their price target on DocuSign from $65.00 to $60.00 in a report on Friday, March 10th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.93.

Insider Activity at DocuSign

In other DocuSign news, Director Teresa Briggs sold 1,988 shares of the stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $58.53, for a total transaction of $116,357.64. Following the transaction, the director now directly owns 3,763 shares in the company, valued at approximately $220,248.39. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.55% of the stock is currently owned by insiders.

DocuSign Company Profile

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DocuSign, Inc provides cloud-based electronic signature solutions. Its cloud based electronic signature platform helps companies and individuals securely collect information, automate data workflows and sign anything. The firm automates manual, paper-based processes allowing users to manage all aspects of documented business transactions including identity management, authentication, digital signature, forms and data collection, collaboration, workflow automation and storage.