Docusign Inc. (NASDAQ:DOCU) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 23.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,267 shares of the company's stock after selling 23,528 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Docusign were worth $6,389,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gilman Hill Asset Management LLC grew its stake in shares of Docusign by 4.9% in the first quarter. Gilman Hill Asset Management LLC now owns 84,326 shares of the company's stock worth $6,864,000 after acquiring an additional 3,904 shares in the last quarter. Amundi grew its stake in shares of Docusign by 565.8% in the fourth quarter. Amundi now owns 1,379,575 shares of the company's stock worth $123,486,000 after acquiring an additional 1,172,368 shares in the last quarter. Paradiem LLC acquired a new position in shares of Docusign during the first quarter worth $4,357,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Docusign by 528.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 108,232 shares of the company's stock worth $8,810,000 after purchasing an additional 91,017 shares in the last quarter. Finally, Kentucky Retirement Systems acquired a new position in shares of Docusign during the first quarter worth $1,114,000. Hedge funds and other institutional investors own 77.64% of the company's stock.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of analyst reports. JMP Securities reiterated a "market outperform" rating and set a $124.00 target price on shares of Docusign in a research note on Tuesday, June 3rd. HSBC upgraded shares of Docusign from a "reduce" rating to a "hold" rating and set a $70.00 price objective for the company in a research note on Friday, April 11th. Morgan Stanley decreased their price objective on shares of Docusign from $92.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, June 6th. Royal Bank Of Canada restated a "sector perform" rating and issued a $90.00 price objective on shares of Docusign in a research note on Friday, March 14th. Finally, Hsbc Global Res upgraded shares of Docusign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. Twelve investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $89.77.

Insider Activity

In other Docusign news, insider Robert Chatwani sold 22,875 shares of Docusign stock in a transaction 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 transaction, the insider owned 72,126 shares in the company, valued at $5,394,303.54. This trade represents a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Allan C. Thygesen sold 40,000 shares of Docusign stock in a transaction 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 transaction, the chief executive officer owned 143,983 shares in the company, valued at approximately $11,160,122.33. This trade represents a 21.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,552 shares of company stock worth $6,592,351 in the last three months. 1.01% of the stock is owned by insiders.

Docusign Trading Up 2.1%

Shares of DOCU stock traded up $1.63 during trading hours on Wednesday, hitting $79.58. The company's stock had a trading volume of 1,988,721 shares, compared to its average volume of 2,865,998. The business has a fifty day moving average of $81.98 and a 200-day moving average of $84.24. The stock has a market cap of $16.08 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 29.09 and a beta of 1.08. Docusign Inc. has a twelve month low of $48.80 and a twelve month high of $107.86.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its 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 firm had revenue of $763.65 million for the quarter, compared to analyst estimates of $748.79 million. During the same quarter last year, the business earned $0.82 earnings per share. Docusign's revenue was up 7.6% compared to the same quarter last year. On average, equities analysts expect that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign declared that its Board of Directors has authorized a share buyback plan on Thursday, June 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

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.