Green Alpha Advisors LLC Grows Position in DocuSign, Inc. (NASDAQ:DOCU)

Green Alpha Advisors LLC raised its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 10.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,938 shares of the company’s stock after purchasing an additional 858 shares during the quarter. Green Alpha Advisors LLC’s holdings in DocuSign were worth $457,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC bought a new stake in shares of DocuSign during the first quarter valued at about $27,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of DocuSign by 440.0% during 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 buying an additional 220 shares during the period. CI Investments Inc. increased its position in shares of DocuSign by 115.5% during the fourth quarter. CI Investments Inc. now owns 556 shares of the company’s stock valued at $31,000 after buying an additional 298 shares during the period. Capital Advisors Ltd. LLC increased its position in shares of DocuSign by 108.9% during the first quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after buying an additional 295 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of DocuSign by 203.6% during the first quarter. Versant Capital Management Inc now owns 583 shares of the company’s stock valued at $34,000 after buying an additional 391 shares during the period. 77.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Stephen Shute sold 100,315 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $49.20, for a total transaction of $4,935,498.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Enrique T. Salem sold 2,500 shares of the firm’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $50.02, for a total transaction of $125,050.00. Following the completion of the transaction, the director now directly owns 156,140 shares in the company, valued at $7,810,122.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Shute sold 100,315 shares of the firm’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $49.20, for a total value of $4,935,498.00. The disclosure for this sale can be found here. Corporate insiders own 17.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DOCU. Robert W. Baird decreased their price target on DocuSign from $70.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, September 8th. Bank of America dropped their price objective on DocuSign from $72.00 to $60.00 in a research note on Friday, September 8th. Piper Sandler increased their price objective on DocuSign from $60.00 to $61.00 in a research note on Friday, June 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $59.00 price objective on shares of DocuSign in a research note on Friday, September 8th. Finally, 22nd Century Group reissued a “maintains” rating on shares of DocuSign in a research note on Friday, June 9th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, DocuSign presently has an average rating of “Hold” and an average price target of $61.43.

DocuSign Trading Down 1.2 %

Shares of DocuSign stock opened at $44.95 on Friday. The firm has a market capitalization of $9.13 billion, a P/E ratio of -499.39, a P/E/G ratio of 8.40 and a beta of 0.90. The business has a fifty day simple moving average of $50.42 and a two-hundred day simple moving average of $53.08. DocuSign, Inc. has a 12 month low of $39.57 and a 12 month high of $69.45.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, September 7th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.66 by $0.06. The business had revenue of $687.69 million during the quarter, compared to analyst estimates of $677.56 million. DocuSign had a positive return on equity of 11.30% and a negative net margin of 0.64%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.18) earnings per share. Analysts predict that DocuSign, Inc. will post 0.39 earnings per share for the current year.

DocuSign Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.