Prospera Private Wealth LLC Invests $117,000 in DocuSign, Inc. (NASDAQ:DOCU)

Prospera Private Wealth LLC acquired a new position in DocuSign, Inc. (NASDAQ:DOCU) in the third quarter, Holdings Channel.com reports. The fund acquired 1,891 shares of the company’s stock, valued at approximately $117,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Jericho Capital Asset Management L.P. grew its stake in shares of DocuSign by 316.6% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,417,908 shares of the company’s stock worth $203,536,000 after acquiring an additional 2,597,489 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of DocuSign in the second quarter worth $115,795,000. Pacer Advisors Inc. lifted its stake in shares of DocuSign by 77.9% during the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after buying an additional 1,541,816 shares during the period. KBC Group NV grew its holdings in shares of DocuSign by 209.8% during the third quarter. KBC Group NV now owns 1,156,874 shares of the company’s stock valued at $71,830,000 after buying an additional 783,419 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of DocuSign by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock valued at $199,518,000 after acquiring an additional 576,414 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wells Fargo & Company boosted their price target on DocuSign from $48.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Robert W. Baird upped their target price on DocuSign from $55.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. JMP Securities reissued a “market outperform” rating and set a $84.00 price target on shares of DocuSign in a research report on Thursday, September 5th. Citigroup upped their price objective on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Bank of America raised their target price on shares of DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus target price of $63.40.

Insider Activity at DocuSign

In other news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following the sale, the director now owns 7,202 shares in the company, valued at $407,345.12. This trade represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Allan C. Thygesen sold 7,764 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $69.95, for a total transaction of $543,091.80. Following the sale, the chief executive officer now directly owns 107,825 shares of the company’s stock, valued at $7,542,358.75. This represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is owned by company insiders.

DocuSign Stock Up 1.7 %

DOCU stock opened at $80.18 on Friday. DocuSign, Inc. has a 52-week low of $42.12 and a 52-week high of $83.68. The firm has a market cap of $16.27 billion, a P/E ratio of 16.92, a PEG ratio of 8.41 and a beta of 0.90. The company’s 50-day simple moving average is $68.94 and its 200-day simple moving average is $60.07.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. DocuSign’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 earnings per share. On average, analysts anticipate that DocuSign, Inc. will post 1.01 earnings per share for the current fiscal year.

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.