Moody Lynn & Lieberson LLC Purchases New Holdings in Docusign Inc. (NASDAQ:DOCU)

Moody Lynn & Lieberson LLC purchased a new stake in Docusign Inc. (NASDAQ:DOCU - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,522 shares of the company's stock, valued at approximately $287,000.

Several other large investors have also bought and sold shares of DOCU. Bessemer Group Inc. raised its holdings in Docusign by 27.5% during the first quarter. Bessemer Group Inc. now owns 602 shares of the company's stock worth $49,000 after buying an additional 130 shares during the last quarter. Citizens Financial Group Inc. RI grew its stake in Docusign by 2.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock valued at $539,000 after acquiring an additional 133 shares in the last quarter. Rakuten Securities Inc. grew its position in Docusign by 20.9% during the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock worth $72,000 after buying an additional 138 shares in the last quarter. M&T Bank Corp lifted its position in Docusign by 1.3% during the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company's stock valued at $975,000 after purchasing an additional 143 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in Docusign by 34.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company's stock valued at $50,000 after acquiring an additional 143 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Docusign Price Performance

DOCU traded down $0.21 during mid-day trading on Wednesday, hitting $77.15. The stock had a trading volume of 1,916,620 shares, compared to its average volume of 2,859,484. Docusign Inc. has a 1-year low of $48.80 and a 1-year high of $107.86. The firm has a market capitalization of $15.59 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 29.07 and a beta of 1.08. The stock's fifty day simple moving average is $82.35 and its 200-day simple moving average is $84.87.

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

Docusign declared that its board has authorized a stock repurchase program on Thursday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently commented on DOCU. Wedbush decreased their target price on Docusign from $100.00 to $85.00 and set a "neutral" rating for the company in a report on Thursday, June 12th. JMP Securities reaffirmed a "market outperform" rating and issued a $124.00 price objective on shares of Docusign in a report on Tuesday, June 3rd. Needham & Company LLC reiterated a "hold" rating on shares of Docusign in a research note on Friday, June 6th. UBS Group lowered their price objective on Docusign from $85.00 to $80.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. Finally, Robert W. Baird dropped their price objective on shares of Docusign from $93.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Twelve equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Docusign currently has a consensus rating of "Hold" and a consensus target price of $89.77.

Insider Activity

In related news, Director Teresa Briggs sold 534 shares of Docusign stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $74.37, for a total transaction of $39,713.58. Following the completion of the sale, the director owned 8,805 shares of the company's stock, valued at approximately $654,827.85. The trade was a 5.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert Chatwani sold 22,875 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $74.79, for a total transaction of $1,710,821.25. Following the sale, the insider owned 72,126 shares of the company's stock, valued at $5,394,303.54. This trade represents a 24.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,552 shares of company stock valued at $3,491,951 over the last ninety days. 1.01% of the stock is currently owned by company 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.