Kovack Advisors Inc. Has $503,000 Stake in DocuSign, Inc. (NASDAQ:DOCU)

Kovack Advisors Inc. lowered its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 3.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 8,442 shares of the company’s stock after selling 309 shares during the period. Kovack Advisors Inc.’s holdings in DocuSign were worth $503,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in DOCU. Capital Analysts LLC lifted its position in shares of DocuSign by 781.7% in the 4th quarter. Capital Analysts LLC now owns 529 shares of the company’s stock worth $31,000 after acquiring an additional 469 shares during the period. McGlone Suttner Wealth Management Inc. bought a new position in DocuSign in the fourth quarter worth $32,000. Register Financial Advisors LLC acquired a new stake in DocuSign during the first quarter worth $37,000. ICA Group Wealth Management LLC bought a new stake in DocuSign in the 4th quarter valued at $39,000. Finally, Whittier Trust Co. lifted its holdings in shares of DocuSign by 28.8% during the 4th quarter. Whittier Trust Co. now owns 935 shares of the company’s stock worth $56,000 after acquiring an additional 209 shares during the period. Institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Bank of America dropped their price target on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. JMP Securities restated a “market outperform” rating and set a $84.00 target price on shares of DocuSign in a research report on Friday, June 7th. Morgan Stanley lowered their price target on DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, June 7th. Piper Sandler dropped their price objective on DocuSign from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Finally, UBS Group raised shares of DocuSign from a “sell” rating to a “neutral” rating and upped their target price for the stock from $48.00 to $62.00 in a report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, DocuSign presently has an average rating of “Hold” and an average price target of $59.36.

DocuSign Price Performance

Shares of DOCU stock traded down $0.19 during trading hours on Thursday, reaching $54.13. 1,587,705 shares of the company were exchanged, compared to its average volume of 3,655,912. DocuSign, Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $64.76. The stock’s fifty day moving average is $55.53 and its two-hundred day moving average is $56.69. The company has a market cap of $11.08 billion, a price-to-earnings ratio of 104.10, a P/E/G ratio of 4.52 and a beta of 0.94.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.09. The firm had revenue of $709.64 million for the quarter, compared to the consensus estimate of $706.07 million. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. On average, research analysts anticipate that DocuSign, Inc. will post 0.88 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Teresa Briggs sold 499 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $54.92, for a total value of $27,405.08. Following the transaction, the director now owns 6,668 shares of the company’s stock, valued at approximately $366,206.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Peter Solvik sold 15,000 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $60.00, for a total transaction of $900,000.00. Following the completion of the transaction, the director now directly owns 783 shares in the company, valued at approximately $46,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Teresa Briggs sold 499 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $54.92, for a total value of $27,405.08. Following the completion of the sale, the director now directly owns 6,668 shares of the company’s stock, valued at $366,206.56. The disclosure for this sale can be found here. Insiders sold a total of 97,218 shares of company stock worth $5,183,359 over the last three months. 1.66% of the stock is currently owned by company insiders.

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.