Advisor Resource Council Acquires Shares of 3,420 Docusign Inc. (NASDAQ:DOCU)

Advisor Resource Council bought a new position in Docusign Inc. (NASDAQ:DOCU - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,420 shares of the company's stock, valued at approximately $271,000.

A number of other institutional investors have also bought and sold shares of DOCU. Citizens Financial Group Inc. RI boosted its position in shares of Docusign by 2.3% during the 4th 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 during the last quarter. Rakuten Securities Inc. boosted its holdings in Docusign by 20.9% in the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock valued at $72,000 after purchasing an additional 138 shares during the last quarter. Synergy Financial Group LTD grew its stake in shares of Docusign by 3.4% in the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company's stock valued at $381,000 after buying an additional 140 shares during the period. M&T Bank Corp grew its stake in shares of Docusign by 1.3% in the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company's stock valued at $975,000 after buying an additional 143 shares during the period. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Docusign by 34.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company's stock worth $50,000 after buying an additional 143 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on DOCU. Citigroup decreased their price objective on Docusign from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, June 9th. Wells Fargo & Company raised Docusign from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $67.00 to $80.00 in a research note on Friday, June 13th. HSBC upgraded Docusign from a "reduce" rating to a "hold" rating and set a $70.00 price target for the company in a report on Friday, April 11th. William Blair reissued an "outperform" rating on shares of Docusign in a research report on Monday, April 21st. Finally, UBS Group decreased their target price 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $89.77.

Insider Buying and Selling

In other Docusign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $76.09, for a total transaction of $608,720.00. Following the sale, the chief financial officer now owns 86,156 shares in the company, valued at $6,555,610.04. This represents a 8.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total value of $609,825.00. Following the completion of the sale, the insider now directly owns 45,875 shares in the company, valued at $3,730,096.25. This represents a 14.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,052 shares of company stock valued at $4,101,776 in the last ninety days. Company insiders own 1.01% of the company's stock.

Docusign Trading Down 0.8%

DOCU traded down $0.63 during mid-day trading on Wednesday, hitting $75.01. 2,137,164 shares of the stock were exchanged, compared to its average volume of 2,862,051. The firm's fifty day moving average is $82.14 and its two-hundred day moving average is $85.49. Docusign Inc. has a 1-year low of $48.80 and a 1-year high of $107.86. The company has a market cap of $15.16 billion, a PE ratio of 14.18, a PEG ratio of 28.69 and a beta of 1.14.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.90 earnings per share (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 analyst estimates of $748.79 million. During the same period in the prior year, the firm earned $0.82 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current year.

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

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.