Sequoia Financial Advisors LLC Has $937,000 Stake in Docusign Inc. $DOCU

Sequoia Financial Advisors LLC lifted its stake in shares of Docusign Inc. (NASDAQ:DOCU) by 334.8% during the first quarter, Holdings Channel reports. The fund owned 19,758 shares of the company’s stock after buying an additional 15,214 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Docusign were worth $937,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Azzad Asset Management Inc. ADV grew its holdings in shares of Docusign by 47.0% in the first quarter. Azzad Asset Management Inc. ADV now owns 18,968 shares of the company’s stock valued at $899,000 after acquiring an additional 6,065 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Docusign by 2.7% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 41,103 shares of the company’s stock worth $1,949,000 after acquiring an additional 1,086 shares during the last quarter. Montag A & Associates Inc. raised its position in shares of Docusign by 194.2% in the first quarter. Montag A & Associates Inc. now owns 4,575 shares of the company’s stock valued at $217,000 after purchasing an additional 3,020 shares during the period. R Squared Ltd raised its holdings in Docusign by 47.9% during the 1st quarter. R Squared Ltd now owns 5,600 shares of the company’s stock valued at $265,000 after acquiring an additional 1,814 shares during the period. Finally, Westbourne Investment Advisors Inc. lifted its holdings in Docusign by 14.3% during the 1st quarter. Westbourne Investment Advisors Inc. now owns 66,870 shares of the company’s stock worth $3,170,000 after purchasing an additional 8,348 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group set a $60.00 price objective on shares of Docusign in a research report on Friday, June 5th. Wells Fargo & Company lowered their price target on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Friday, June 5th. Jefferies Financial Group upped their target price on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday, June 5th. BTIG Research reduced their target price on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Finally, Citigroup upped their price target on Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Docusign has a consensus rating of “Hold” and an average price target of $60.27.

Insider Activity

In other Docusign news, insider James P. Shaughnessy sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were 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 in the company, valued at approximately $2,405,195.10. This represents a 18.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $43.01, for a total transaction of $683,945.02. Following the completion of the sale, the insider directly owned 72,805 shares of the company’s stock, valued at approximately $3,131,343.05. The trade was a 17.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 76,695 shares of company stock valued at $3,476,002. 0.59% of the stock is owned by corporate insiders.

Docusign Stock Performance

NASDAQ DOCU opened at $52.74 on Friday. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65. The stock has a 50 day moving average price of $47.44 and a 200-day moving average price of $49.53. The company has a market capitalization of $10.07 billion, a P/E ratio of 34.25, a P/E/G ratio of 1.57 and a beta of 0.90.

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

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.