CloudAlpha Capital Management Limited Hong Kong Purchases New Position in Docusign Inc. (NASDAQ:DOCU)

Key Points

• CloudAlpha Capital Management Limited has acquired 46,117 shares of Docusign Inc. valued at approximately $3.75 million, indicating growing institutional interest in the company.
• Docusign's CEO, Allan C. Thygesen, sold 40,000 shares totaling over $3.1 million, resulting in a 21.74% decrease in his ownership stake.
• Analysts have mixed views on Docusign's stock, with price targets ranging from $67 to $115 and a consensus rating of "Hold" with a target of $89.77.

CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 46,117 shares of the company's stock, valued at approximately $3,754,000.

Several other large investors also recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Docusign during the fourth quarter worth about $300,000. Sei Investments Co. increased its holdings in Docusign by 14.5% in the fourth quarter. Sei Investments Co. now owns 56,807 shares of the company's stock valued at $5,109,000 after buying an additional 7,215 shares in the last quarter. LPL Financial LLC increased its holdings in Docusign by 12.4% in the fourth quarter. LPL Financial LLC now owns 209,927 shares of the company's stock valued at $18,881,000 after buying an additional 23,181 shares in the last quarter. FineMark National Bank & Trust acquired a new stake in shares of Docusign in the fourth quarter valued at approximately $210,000. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Docusign by 64.7% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 16,873 shares of the company's stock valued at $1,518,000 after purchasing an additional 6,631 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Insider Activity at Docusign

In other Docusign news, CFO Blake Jeffrey Grayson sold 15,143 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $74.80, for a total value of $1,132,696.40. Following the completion of the sale, the chief financial officer directly owned 110,723 shares of the company's stock, valued at $8,282,080.40. The trade was a 12.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $77.51, for a total transaction of $3,100,400.00. Following the completion of the sale, the chief executive officer directly owned 143,983 shares of the company's stock, valued at $11,160,122.33. This represents a 21.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,552 shares of company stock valued at $5,983,631. Company insiders own 1.01% of the company's stock.

Docusign Price Performance

Docusign stock traded down $0.58 during midday trading on Tuesday, hitting $79.81. 361,859 shares of the stock were exchanged, compared to its average volume of 2,612,545. Docusign Inc. has a 1 year low of $48.80 and a 1 year high of $107.86. The firm has a market cap of $16.13 billion, a P/E ratio of 15.08, a P/E/G ratio of 29.81 and a beta of 1.08. The company has a 50 day moving average price of $79.96 and a two-hundred day moving average price of $82.92.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.90 EPS for the quarter, topping 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 the consensus estimate of $748.79 million. During the same period in the previous year, the firm earned $0.82 EPS. Docusign's revenue was up 7.6% on a year-over-year basis. As a group, analysts predict that Docusign Inc. will post 1.17 EPS for the current year.

Docusign announced that its Board of Directors has approved a share repurchase program on Thursday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

DOCU has been the topic of several research reports. Wedbush lowered their price target on shares of Docusign from $100.00 to $85.00 and set a "neutral" rating on the stock in a research report on Thursday, June 12th. Hsbc Global Res upgraded shares of Docusign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. Wells Fargo & Company upgraded shares of Docusign from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $67.00 to $80.00 in a research report on Friday, June 13th. JMP Securities restated a "market outperform" rating and set a $124.00 target price on shares of Docusign in a research report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Docusign from $81.00 to $77.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $89.77.

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.