Janney Montgomery Scott LLC Lowers Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Posted by Defense World Staff on Oct 24th, 2023

Janney Montgomery Scott LLC lowered its position in DocuSign, Inc. (NASDAQ:DOCU – Free Report) by 13.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,964 shares of the company’s stock after selling 3,549 shares during the period. Janney Montgomery Scott LLC’s holdings in DocuSign were worth $1,173,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of DOCU. FNY Investment Advisers LLC acquired a new position in shares of DocuSign in the second quarter worth about $25,000. GPS Wealth Strategies Group LLC acquired a new position in shares of DocuSign during the 1st quarter worth about $27,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of DocuSign by 440.0% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 270 shares of the company’s stock worth $28,000 after purchasing an additional 220 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in shares of DocuSign by 108.9% during the 1st quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 295 shares during the last quarter. Finally, Private Trust Co. NA raised its position in shares of DocuSign by 484.0% during the 1st quarter. Private Trust Co. NA now owns 584 shares of the company’s stock worth $34,000 after purchasing an additional 484 shares during the last quarter. Institutional investors and hedge funds own 77.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. HSBC upgraded shares of DocuSign from a “reduce” rating to a “hold” rating and set a $42.00 price target for the company in a research report on Wednesday, September 27th. Wells Fargo & Company reduced their price target on shares of DocuSign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, September 8th. JMP Securities reiterated a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a report on Friday, September 8th. Citigroup increased their price objective on shares of DocuSign from $81.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, September 13th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $59.00 price objective on shares of DocuSign in a report on Friday, September 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.69.

Read Our Latest Stock Analysis on DOCU

Insider Buying and Selling

In related news, insider Stephen Shute sold 13,606 shares of the stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $43.51, for a total transaction of $591,997.06. Following the completion of the transaction, the insider now owns 2,740 shares of the company’s stock, valued at approximately $119,217.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DocuSign news, insider Stephen Shute sold 13,606 shares of the stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $43.51, for a total transaction of $591,997.06. Following the sale, the insider now directly owns 2,740 shares in the company, valued at approximately $119,217.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Daniel D. Springer sold 289,667 shares of the stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $42.09, for a total transaction of $12,192,084.03. Following the sale, the director now owns 1,051,419 shares in the company, valued at $44,254,225.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 592,940 shares of company stock valued at $24,932,715. Company insiders own 17.80% of the company’s stock.

DocuSign Price Performance

DocuSign stock opened at $40.08 on Tuesday. The firm has a 50 day simple moving average of $45.01 and a 200-day simple moving average of $49.83. DocuSign, Inc. has a 1-year low of $39.36 and a 1-year high of $69.45. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of -445.28, a price-to-earnings-growth ratio of 7.32 and a beta of 0.94.

DocuSign (NASDAQ:DOCU – Get Free Report) last posted its quarterly earnings data on Thursday, September 7th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. The firm had revenue of $687.69 million during the quarter, compared to analysts’ expectations of $677.56 million. DocuSign had a negative net margin of 0.64% and a positive return on equity of 11.30%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.18) EPS. Equities analysts expect that DocuSign, Inc. will post 0.4 earnings per share for the current fiscal year.

DocuSign Profile

(Free Report)

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides DocuSign 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; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.