OP Asset Management Ltd acquired a new position in shares of Docusign Inc. (NASDAQ:DOCU – Free Report) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 82,919 shares of the company’s stock, valued at approximately $3,931,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Krilogy Financial LLC bought a new stake in shares of Docusign during the first quarter worth about $635,000. SG Americas Securities LLC raised its holdings in Docusign by 452.3% in the 1st quarter. SG Americas Securities LLC now owns 1,314,632 shares of the company’s stock valued at $62,327,000 after buying an additional 1,076,622 shares during the last quarter. Uhlmann Price Securities LLC bought a new position in Docusign in the 1st quarter valued at approximately $252,000. Diversified Trust Co boosted its position in Docusign by 37.9% during the 1st quarter. Diversified Trust Co now owns 13,593 shares of the company’s stock worth $644,000 after buying an additional 3,736 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its position in Docusign by 11.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 238,114 shares of the company’s stock worth $16,287,000 after buying an additional 24,842 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on DOCU. Citigroup upped their price target on shares of Docusign from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. JPMorgan Chase & Co. reduced their price objective 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. Bank of America initiated coverage on Docusign in a report on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 price objective for the company. Piper Sandler lowered their target price on Docusign from $75.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Finally, Wall Street Zen raised Docusign from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Three research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.27.
Insider Transactions at Docusign
In other news, Director Mary Agnes Wilderotter sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $48.15, for a total transaction of $144,450.00. Following the completion of the sale, the director owned 59,803 shares in the company, valued at $2,879,514.45. The trade was a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert Chatwani sold 15,902 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $43.01, for a total value of $683,945.02. Following the transaction, the insider directly owned 72,805 shares in the company, valued at $3,131,343.05. The trade was a 17.93% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 64,695 shares of company stock valued at $3,006,682. Company insiders own 0.59% of the company’s stock.
Docusign Price Performance
DOCU stock opened at $45.31 on Friday. The company’s 50-day moving average is $47.01 and its 200-day moving average is $51.72. The stock has a market capitalization of $8.65 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $86.65.
Docusign (NASDAQ:DOCU – Get Free Report) last issued its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business had revenue of $830.24 million during the quarter, compared to analyst estimates of $824.71 million. During the same period in the previous year, the company posted $0.90 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, analysts anticipate that Docusign Inc. will post 1.97 earnings per share for the current fiscal year.
Docusign declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 17th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase up to 21% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Docusign Profile
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.
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