Avantax Advisory Services Inc. Has $1.50 Million Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Avantax Advisory Services Inc. increased its stake in DocuSign, Inc. (NASDAQ:DOCU) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,683 shares of the company’s stock after buying an additional 368 shares during the quarter. Avantax Advisory Services Inc.’s holdings in DocuSign were worth $1,500,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Securian Asset Management Inc. acquired a new stake in DocuSign during the 4th quarter valued at $1,380,000. Moors & Cabot Inc. acquired a new stake in DocuSign during the 4th quarter valued at $237,000. Prosperity Wealth Management Inc. lifted its holdings in DocuSign by 4.0% during the 4th quarter. Prosperity Wealth Management Inc. now owns 7,585 shares of the company’s stock valued at $682,000 after purchasing an additional 295 shares during the last quarter. AGF Management Ltd. acquired a new stake in DocuSign during the 4th quarter valued at $418,000. Finally, Wealthfront Advisers LLC lifted its holdings in DocuSign by 200.8% during the 4th quarter. Wealthfront Advisers LLC now owns 11,666 shares of the company’s stock valued at $1,049,000 after purchasing an additional 7,788 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Buying and Selling at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the transaction, the director now owns 8,270 shares in the company, valued at $722,880.70. The trade was a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter Solvik sold 10,000 shares of DocuSign stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the transaction, the director now owns 150,253 shares in the company, valued at approximately $13,712,088.78. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,034 shares of company stock worth $5,932,352 over the last 90 days. Insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

Shares of NASDAQ DOCU opened at $85.01 on Wednesday. DocuSign, Inc. has a 52 week low of $48.70 and a 52 week high of $107.86. The stock has a market capitalization of $17.17 billion, a P/E ratio of 17.53, a PEG ratio of 6.94 and a beta of 1.02. The stock’s fifty day moving average is $87.75 and its 200 day moving average is $79.87.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the business earned $0.76 earnings per share. DocuSign’s revenue was up 9.0% on a year-over-year basis. Equities research analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on DOCU shares. JPMorgan Chase & Co. raised DocuSign from an “underweight” rating to a “neutral” rating and raised their price target for the company from $70.00 to $75.00 in a report on Monday, March 10th. Robert W. Baird set a $93.00 price target on DocuSign in a report on Friday. Wedbush reissued a “neutral” rating and set a $100.00 target price on shares of DocuSign in a report on Friday, March 14th. Piper Sandler lifted their target price on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $95.00.

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.