Acorn Financial Advisory Services Inc. ADV Acquires 656 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Acorn Financial Advisory Services Inc. ADV lifted its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 5.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,768 shares of the company’s stock after buying an additional 656 shares during the period. DocuSign comprises 0.9% of Acorn Financial Advisory Services Inc. ADV’s holdings, making the stock its 19th largest holding. Acorn Financial Advisory Services Inc. ADV’s holdings in DocuSign were worth $2,382,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of DOCU. NewSquare Capital LLC grew its holdings in DocuSign by 71.4% during the 4th quarter. NewSquare Capital LLC now owns 120 shares of the company’s stock valued at $27,000 after purchasing an additional 50 shares during the last quarter. Associated Banc Corp grew its holdings in DocuSign by 202.3% during the 4th quarter. Associated Banc Corp now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 87 shares during the last quarter. Ellis Investment Partners LLC grew its holdings in DocuSign by 1,300.0% during the 4th quarter. Ellis Investment Partners LLC now owns 140 shares of the company’s stock valued at $31,000 after purchasing an additional 130 shares during the last quarter. Avion Wealth bought a new position in DocuSign during the 4th quarter valued at about $33,000. Finally, Retirement Group LLC bought a new position in DocuSign during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

In other news, CEO Daniel D. Springer sold 356,479 shares of the stock in a transaction on Monday, February 1st. The shares were sold at an average price of $229.61, for a total value of $81,851,143.19. Following the sale, the chief executive officer now owns 1,660,721 shares in the company, valued at $381,318,148.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Enrique T. Salem sold 7,500 shares of the stock in a transaction on Wednesday, April 7th. The stock was sold at an average price of $205.49, for a total transaction of $1,541,175.00. Following the completion of the sale, the director now owns 144,309 shares in the company, valued at approximately $29,654,056.41. The disclosure for this sale can be found here. Insiders sold 393,031 shares of company stock worth $90,008,534 in the last quarter. Company insiders own 5.06% of the company’s stock.

Several equities analysts recently commented on the stock. Bank of America assumed coverage on shares of DocuSign in a report on Thursday. They set a “buy” rating on the stock. Wells Fargo & Company lowered their price objective on shares of DocuSign from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 31st. Piper Sandler raised shares of DocuSign from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $225.00 to $300.00 in a research report on Monday, January 4th. Evercore ISI raised shares of DocuSign from an “in-line” rating to an “outperform” rating and set a $285.00 price objective for the company in a research report on Thursday, March 18th. Finally, Daiwa Capital Markets started coverage on shares of DocuSign in a research report on Monday, March 29th. They issued a “buy” rating and a $239.00 price objective for the company. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $272.55.

NASDAQ:DOCU traded up $1.11 during midday trading on Monday, reaching $214.08. 47,910 shares of the stock traded hands, compared to its average volume of 3,203,565. DocuSign, Inc. has a 12-month low of $90.04 and a 12-month high of $290.23. The business has a 50-day moving average of $216.32 and a two-hundred day moving average of $227.36. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $41.34 billion, a PE ratio of -180.43 and a beta of 0.88.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data on Wednesday, March 10th. The company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.15. The firm had revenue of $430.89 million for the quarter, compared to analyst estimates of $407.95 million. DocuSign had a negative net margin of 16.83% and a negative return on equity of 30.14%. The business’s quarterly revenue was up 56.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 earnings per share. Research analysts anticipate that DocuSign, Inc. will post -0.68 earnings per share for the current year.

DocuSign Profile

DocuSign, Inc provides cloud based software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It also offers DocuSign CLM, which automates workflows across the entire agreement process; Intelligent Insights that use artificial intelligence to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; and Negotiate for Salesforce that supports for approvals, document comparisons, and version control.

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Institutional Ownership by Quarter for DocuSign (NASDAQ:DOCU)

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