Alps Advisors Inc. Takes $351,000 Position in Docusign Inc. (NASDAQ:DOCU)

Alps Advisors Inc. bought a new stake in Docusign Inc. (NASDAQ:DOCU - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,310 shares of the company's stock, valued at approximately $351,000.

Other large investors have also recently modified their holdings of the company. Golden State Wealth Management LLC raised its position in shares of Docusign by 519.4% in the first quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock worth $31,000 after buying an additional 322 shares in the last quarter. Wood Tarver Financial Group LLC bought a new position in Docusign during the fourth quarter valued at approximately $37,000. MassMutual Private Wealth & Trust FSB grew its holdings in Docusign by 153.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock valued at $37,000 after purchasing an additional 274 shares during the last quarter. McIlrath & Eck LLC increased its position in Docusign by 476.0% during the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock valued at $39,000 after purchasing an additional 357 shares during the period. Finally, Bessemer Group Inc. grew its stake in Docusign by 490.0% during the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company's stock worth $42,000 after buying an additional 392 shares during the last quarter. Institutional investors own 77.64% of the company's stock.

Docusign Trading Up 2.3%

DOCU stock traded up $1.75 during mid-day trading on Friday, hitting $79.37. 1,956,220 shares of the company were exchanged, compared to its average volume of 2,889,264. The company has a market capitalization of $16.04 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 29.62 and a beta of 1.08. Docusign Inc. has a twelve month low of $48.80 and a twelve month high of $107.86. The firm has a fifty day simple moving average of $81.16 and a 200 day simple moving average of $83.37.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.81 by $0.09. The company had revenue of $763.65 million for the quarter, compared to analyst estimates of $748.79 million. Docusign had a net margin of 36.50% and a return on equity of 14.27%. Docusign's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.82 EPS. As a group, sell-side analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current year.

Docusign announced that its Board of Directors has initiated a share repurchase plan on Thursday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Docusign news, CFO Blake Jeffrey Grayson sold 15,143 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $74.80, for a total transaction of $1,132,696.40. Following the completion of the transaction, the chief financial officer owned 110,723 shares of the company's stock, valued at approximately $8,282,080.40. The trade was a 12.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $74.79, for a total value of $1,710,821.25. Following the completion of the sale, the insider directly owned 72,126 shares of the company's stock, valued at $5,394,303.54. This trade represents a 24.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,552 shares of company stock worth $5,983,631 over the last ninety days. 1.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Bank of America decreased their price target on Docusign from $88.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Robert W. Baird lowered their price objective on shares of Docusign from $93.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. William Blair restated an "outperform" rating on shares of Docusign in a research note on Monday, April 21st. JPMorgan Chase & Co. reduced their target price on shares of Docusign from $81.00 to $77.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Finally, Hsbc Global Res upgraded Docusign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $89.77.

About Docusign

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.