Janney Montgomery Scott LLC Has $1.46 Million Position in Docusign Inc. $DOCU

Janney Montgomery Scott LLC raised its holdings in shares of Docusign Inc. (NASDAQ:DOCU) by 116.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,796 shares of the company’s stock after purchasing an additional 16,591 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Docusign were worth $1,460,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOCU. Smartleaf Asset Management LLC raised its position in shares of Docusign by 8.2% in the second quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock valued at $166,000 after purchasing an additional 165 shares during the period. Centaurus Financial Inc. grew its stake in Docusign by 3.4% in the 3rd quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock valued at $402,000 after buying an additional 184 shares during the last quarter. True Wealth Design LLC raised its holdings in Docusign by 105.2% in the 4th quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after acquiring an additional 222 shares during the period. Sanctuary Advisors LLC lifted its position in Docusign by 2.4% during the fourth quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company’s stock worth $662,000 after acquiring an additional 231 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in shares of Docusign by 3.4% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,463 shares of the company’s stock valued at $510,000 after purchasing an additional 246 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider James P. Shaughnessy sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total value of $546,480.00. Following the completion of the transaction, the insider owned 52,815 shares of the company’s stock, valued at $2,405,195.10. The trade was a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 6,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total transaction of $273,240.00. Following the sale, the executive directly owned 89,972 shares of the company’s stock, valued at $4,097,324.88. This represents a 6.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 76,695 shares of company stock valued at $3,476,002 in the last ninety days. Insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on DOCU shares. Piper Sandler dropped their price target on Docusign from $75.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Weiss Ratings cut Docusign from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. Jefferies Financial Group lifted their target price on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, June 5th. Bank of America started coverage on shares of Docusign in a research report on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price target on shares of Docusign from $78.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Docusign has a consensus rating of “Hold” and an average price target of $60.27.

Docusign Trading Up 0.9%

Shares of DOCU stock opened at $49.18 on Friday. The stock has a market cap of $9.39 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90. The stock has a 50 day simple moving average of $47.05 and a 200 day simple moving average of $50.17. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $86.65.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The firm had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $0.90 EPS. Analysts forecast that Docusign Inc. will post 2.03 EPS for the current year.

Docusign declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 21% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.