Kentucky Retirement Systems Makes New $1.11 Million Investment in Docusign Inc. (NASDAQ:DOCU)

Kentucky Retirement Systems purchased a new stake in Docusign Inc. (NASDAQ:DOCU - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,684 shares of the company's stock, valued at approximately $1,114,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of DOCU. Perfromance Wealth Partners LLC acquired a new stake in shares of Docusign during the 1st quarter worth approximately $204,000. Advisor Resource Council bought a new position in Docusign during the 1st quarter valued at $271,000. Blue Trust Inc. boosted its stake in shares of Docusign by 61.1% during the 1st quarter. Blue Trust Inc. now owns 1,128 shares of the company's stock worth $92,000 after acquiring an additional 428 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Docusign during the 1st quarter worth $230,000. Finally, United Advisor Group LLC boosted its stake in shares of Docusign by 11.6% during the 1st quarter. United Advisor Group LLC now owns 3,883 shares of the company's stock worth $316,000 after acquiring an additional 403 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group cut their price objective on Docusign from $85.00 to $80.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Citigroup dropped their price objective on Docusign from $115.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, June 9th. Wedbush lowered their price target on Docusign from $100.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday, June 12th. Needham & Company LLC reiterated a "hold" rating on shares of Docusign in a research note on Friday, June 6th. Finally, Robert W. Baird lowered their price objective on Docusign from $93.00 to $85.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. Twelve analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $89.77.

Docusign Price Performance

Shares of DOCU stock traded down $0.63 during trading hours on Wednesday, reaching $75.01. The company had a trading volume of 2,137,164 shares, compared to its average volume of 2,862,051. The business has a fifty day simple moving average of $82.14 and a 200-day simple moving average of $85.49. The company has a market cap of $15.16 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 28.69 and a beta of 1.14. Docusign Inc. has a 12 month low of $48.80 and a 12 month high of $107.86.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.09. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The company had revenue of $763.65 million during the quarter, compared to analysts' expectations of $748.79 million. During the same period in the previous year, the business earned $0.82 earnings per share. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts expect that Docusign Inc. will post 1.17 earnings per share for the current year.

Docusign announced that its Board of Directors has authorized a share repurchase plan on Thursday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Activity at Docusign

In other news, insider James P. Shaughnessy sold 7,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total transaction of $609,825.00. Following the completion of the transaction, the insider now owns 45,875 shares in the company, valued at $3,730,096.25. This trade represents a 14.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of Docusign stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total transaction of $608,720.00. Following the sale, the chief financial officer now directly owns 86,156 shares of the company's stock, valued at $6,555,610.04. This represents a 8.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,052 shares of company stock valued at $4,101,776. 1.01% of the stock is owned by corporate insiders.

Docusign 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.