Paradiem LLC Takes Position in Docusign Inc. (NASDAQ:DOCU)

Paradiem LLC acquired a new position in Docusign Inc. (NASDAQ:DOCU - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 53,522 shares of the company's stock, valued at approximately $4,357,000.

Other institutional investors have also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new stake in shares of Docusign during the fourth quarter worth $30,000. First Horizon Advisors Inc. increased its position in Docusign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after purchasing an additional 201 shares during 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 raised its holdings in shares of 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 in the last quarter. Finally, McIlrath & Eck LLC lifted its stake in shares of Docusign by 476.0% in 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 last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider James P. Shaughnessy sold 7,500 shares of Docusign stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total value of $609,825.00. Following the completion of the transaction, the insider now directly owns 45,875 shares of the company's stock, valued at $3,730,096.25. The trade was a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $74.37, for a total transaction of $39,713.58. Following the sale, the director now directly owns 8,805 shares in the company, valued at approximately $654,827.85. This represents a 5.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,052 shares of company stock worth $4,101,776 in the last quarter. 1.66% of the stock is owned by corporate insiders.

Docusign Stock Down 1.6%

Shares of DOCU stock traded down $1.21 during mid-day trading on Monday, reaching $73.92. The stock had a trading volume of 3,017,374 shares, compared to its average volume of 2,860,176. The firm's 50 day simple moving average is $82.23 and its 200 day simple moving average is $85.86. Docusign Inc. has a one year low of $48.80 and a one year high of $107.86. The firm has a market cap of $14.94 billion, a PE ratio of 13.97, a P/E/G ratio of 28.49 and a beta of 1.14.

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 analysts' consensus estimates of $0.81 by $0.09. The firm had revenue of $763.65 million for the quarter, compared to analysts' expectations of $748.79 million. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The business's revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.82 earnings per share. Sell-side analysts forecast 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 authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have commented on DOCU. Citigroup lowered their target price on shares of Docusign from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, June 9th. JMP Securities reissued a "market outperform" rating and set a $124.00 price objective on shares of Docusign in a report on Tuesday, June 3rd. Hsbc Global Res upgraded Docusign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. Wells Fargo & Company upgraded 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 report on Friday, June 13th. Finally, UBS Group dropped their price target on shares of Docusign from $85.00 to $80.00 and set a "neutral" rating on the stock in a research 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 company's stock. Based on data from MarketBeat, Docusign has an average rating of "Hold" and an average 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.