Delap Wealth Advisory LLC Boosts Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Delap Wealth Advisory LLC grew its position in DocuSign, Inc. (NASDAQ:DOCU) by 10.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,488 shares of the company’s stock after purchasing an additional 1,089 shares during the quarter. Delap Wealth Advisory LLC’s holdings in DocuSign were worth $615,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Dakota Wealth Management grew its stake in DocuSign by 0.8% during the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock worth $1,232,000 after buying an additional 181 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of DocuSign by 1.0% in the 1st quarter. New York State Teachers Retirement System now owns 18,469 shares of the company’s stock valued at $1,100,000 after purchasing an additional 187 shares during the last quarter. Elo Mutual Pension Insurance Co raised its position in shares of DocuSign by 1.1% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,848 shares of the company’s stock valued at $1,008,000 after purchasing an additional 214 shares during the last quarter. Motley Fool Asset Management LLC boosted its stake in DocuSign by 6.0% in the 1st quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company’s stock worth $236,000 after purchasing an additional 224 shares in the last quarter. Finally, Optimist Retirement Group LLC grew its position in DocuSign by 5.6% during the 2nd quarter. Optimist Retirement Group LLC now owns 4,255 shares of the company’s stock worth $228,000 after purchasing an additional 227 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Price Performance

DOCU opened at $57.97 on Friday. The firm has a fifty day moving average price of $55.87 and a 200 day moving average price of $56.20. DocuSign, Inc. has a 1 year low of $38.11 and a 1 year high of $64.76. The stock has a market cap of $11.87 billion, a P/E ratio of 111.48, a P/E/G ratio of 5.99 and a beta of 0.93.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. The company had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. DocuSign’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 EPS. Equities analysts expect that DocuSign, Inc. will post 0.99 EPS for the current year.

Insider Activity at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now directly owns 7,202 shares in the company, valued at approximately $407,345.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other DocuSign news, Director Teresa Briggs sold 534 shares of the 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 completion of the sale, the director now owns 7,202 shares in the company, valued at approximately $407,345.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total value of $820,752.54. Following the transaction, the insider now owns 70,748 shares in the company, valued at $3,923,684.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 460,864 shares of company stock valued at $24,549,227. 1.66% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on DOCU shares. Morgan Stanley lowered their price objective on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. Citigroup boosted their price target on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Bank of America raised their price objective on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Piper Sandler dropped their target price on DocuSign from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Finally, Wells Fargo & Company raised their price target on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $61.45.

DocuSign 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.