United Services Automobile Association Buys Shares of 13,264 DocuSign, Inc. (NASDAQ:DOCU)

United Services Automobile Association purchased a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,264 shares of the company’s stock, valued at approximately $1,193,000.

Several other institutional investors and hedge funds have also made changes to their positions in DOCU. Kestra Investment Management LLC acquired a new position in DocuSign during the fourth quarter worth about $30,000. First Horizon Advisors Inc. increased its stake in shares of DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of DocuSign during the 4th quarter worth approximately $36,000. Itau Unibanco Holding S.A. purchased a new stake in DocuSign in the 3rd quarter valued at approximately $28,000. Finally, Avion Wealth grew its holdings in DocuSign by 309.2% during the 4th quarter. Avion Wealth now owns 487 shares of the company’s stock valued at $43,000 after buying an additional 368 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 16,111 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total value of $1,340,435.20. Following the completion of the sale, the chief financial officer now owns 93,960 shares of the company’s stock, valued at $7,817,472. This trade represents a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the transaction, the chief executive officer now directly owns 156,050 shares in the company, valued at approximately $14,050,742. The trade was a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,851 shares of company stock worth $8,579,369 over the last quarter. 1.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DOCU. HSBC restated a “reduce” rating on shares of DocuSign in a research report on Friday, December 6th. Bank of America cut their price objective on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. UBS Group reduced their price objective on shares of DocuSign from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Piper Sandler boosted their price target on DocuSign from $60.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company increased their price target on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research note on Friday, March 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and an average target price of $95.00.

DocuSign Price Performance

NASDAQ DOCU opened at $88.06 on Monday. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The firm has a market capitalization of $17.79 billion, a P/E ratio of 18.16, a P/E/G ratio of 6.94 and a beta of 1.02. The business’s 50-day simple moving average is $87.54 and its 200-day simple moving average is $80.47.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. DocuSign’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 earnings per share. On average, equities research analysts expect that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

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.