Stifel Financial Corp Purchases 6,525 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Stifel Financial Corp grew its position in DocuSign, Inc. (NASDAQ:DOCU) by 8.2% during the fourth quarter, HoldingsChannel reports. The firm owned 85,637 shares of the company’s stock after buying an additional 6,525 shares during the quarter. Stifel Financial Corp’s holdings in DocuSign were worth $7,702,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of DOCU. World Investment Advisors LLC bought a new position in shares of DocuSign in the third quarter valued at approximately $2,314,000. Wilmington Savings Fund Society FSB bought a new position in shares of DocuSign in the third quarter valued at approximately $51,000. Optimist Retirement Group LLC raised its position in shares of DocuSign by 3.8% in the third quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock valued at $274,000 after purchasing an additional 161 shares during the period. Tidal Investments LLC raised its position in shares of DocuSign by 62.8% in the third quarter. Tidal Investments LLC now owns 44,946 shares of the company’s stock valued at $2,791,000 after purchasing an additional 17,339 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of DocuSign by 12.1% in the third quarter. Franklin Resources Inc. now owns 520,925 shares of the company’s stock valued at $35,870,000 after purchasing an additional 56,221 shares during the period. Institutional investors own 77.64% of the company’s stock.

DocuSign Trading Down 0.9 %

Shares of DocuSign stock opened at $82.03 on Tuesday. The stock has a market capitalization of $16.61 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The firm’s 50-day moving average price is $80.25 and its two-hundred day moving average price is $83.87.

DocuSign (NASDAQ:DOCU) last issued 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. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. During the same period in the prior year, the firm earned $0.76 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, equities research analysts predict that DocuSign, Inc. will post 1.17 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Citigroup boosted their target price on shares of DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. JMP Securities restated a “market outperform” rating and set a $124.00 price objective on shares of DocuSign in a report on Thursday, April 17th. Bank of America dropped their price objective on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Morgan Stanley dropped their price objective on shares of DocuSign from $97.00 to $92.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $70.00 to $75.00 in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, DocuSign currently has an average rating of “Hold” and an average price target of $92.46.

Insider Activity at DocuSign

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at approximately $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the sale, the director now owns 8,270 shares in the company, valued at approximately $722,880.70. The trade was a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,851 shares of company stock worth $4,607,439 over the last ninety days. Company insiders own 1.66% of the company’s stock.

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.