Oxford Financial Group LTD. LLC Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Oxford Financial Group LTD. LLC acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,228 shares of the company’s stock, valued at approximately $1,639,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of DocuSign by 2.3% in the third quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after acquiring an additional 120,743 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of DocuSign by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock valued at $215,789,000 after acquiring an additional 53,554 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of DocuSign by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,318,137 shares of the company’s stock valued at $208,494,000 after acquiring an additional 40,825 shares in the last quarter. FMR LLC grew its holdings in shares of DocuSign by 16.8% in the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock valued at $136,156,000 after acquiring an additional 315,073 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of DocuSign by 61.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock valued at $150,525,000 after acquiring an additional 637,505 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

DocuSign Price Performance

DocuSign stock opened at $85.11 on Friday. The firm has a market capitalization of $17.19 billion, a P/E ratio of 17.55, a PEG ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The business has a fifty day moving average price of $87.58 and a 200-day moving average price of $79.95.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to analyst estimates of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $0.76 earnings per share. Sell-side analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Activity at DocuSign

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total transaction of $676,275.00. Following the completion of the sale, the insider now owns 43,781 shares of the company’s stock, valued at $3,947,732.77. The trade was a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of DocuSign stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total value of $3,601,600.00. Following the sale, the chief executive officer now directly owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,851 shares of company stock valued at $8,579,369. Company insiders own 1.66% of the company’s stock.

Analyst Ratings Changes

DOCU has been the subject of several recent analyst reports. Jefferies Financial Group upped their target price on DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Wedbush reissued a “neutral” rating and set a $100.00 price objective on shares of DocuSign in a report on Friday, March 14th. Robert W. Baird set a $93.00 target price on DocuSign in a research report on Friday, March 14th. Piper Sandler raised their target price on DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Morgan Stanley raised their target price on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $95.00.

About DocuSign

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.