Concurrent Investment Advisors LLC Purchases New Stake in Docusign Inc. (NASDAQ:DOCU)

Concurrent Investment Advisors LLC purchased a new position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,596 shares of the company's stock, valued at approximately $618,000.

Other large investors also recently made changes to their positions in the company. Golden State Wealth Management LLC increased 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 acquiring an additional 322 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new position in shares of Docusign in the 4th quarter worth approximately $37,000. McIlrath & Eck LLC increased its position in shares of Docusign by 476.0% in the fourth quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock worth $39,000 after acquiring an additional 357 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Docusign by 153.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock worth $37,000 after acquiring an additional 274 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Docusign by 490.0% during the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company's stock worth $42,000 after purchasing an additional 392 shares during the period. Institutional investors and hedge funds own 77.64% of the company's stock.

Insider Activity at Docusign

In other news, CEO Allan C. Thygesen sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 owned 143,983 shares of the company's stock, valued at $11,160,122.33. This trade represents a 21.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction that occurred on 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 directly owned 8,805 shares of the company's stock, valued at approximately $654,827.85. This trade represents a 5.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,552 shares of company stock worth $6,592,351. Corporate insiders own 1.01% of the company's stock.

Docusign Stock Performance

Shares of Docusign stock traded down $2.81 on Friday, hitting $73.55. The stock had a trading volume of 3,292,769 shares, compared to its average volume of 2,877,258. The stock has a 50 day moving average of $81.72 and a 200 day moving average of $83.96. Docusign Inc. has a twelve month low of $48.80 and a twelve month high of $107.86. The firm has a market capitalization of $14.86 billion, a P/E ratio of 13.90, a PEG ratio of 28.50 and a beta of 1.08.

Docusign (NASDAQ:DOCU - Get Free Report) last released its 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 business had revenue of $763.65 million during the quarter, compared to the consensus estimate of $748.79 million. Docusign had a net margin of 36.50% and a return on equity of 14.27%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS. Equities analysts expect that Docusign Inc. will post 1.17 earnings per share for the current year.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DOCU shares. Hsbc Global Res upgraded shares of Docusign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. Jefferies Financial Group reduced their price target on shares of Docusign from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. 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. Morgan Stanley lowered their target price on Docusign from $92.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, June 6th. Finally, Wedbush decreased their price target on shares of Docusign from $100.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday, June 12th. Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $89.77.

Docusign Company 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.