Ameritas Advisory Services LLC Lowers Stock Holdings in Docusign Inc. (NASDAQ:DOCU)

Ameritas Advisory Services LLC reduced its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 26.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,452 shares of the company's stock after selling 5,591 shares during the quarter. Ameritas Advisory Services LLC's holdings in Docusign were worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its holdings in Docusign by 519.4% in the 1st quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock worth $31,000 after purchasing an additional 322 shares in the last quarter. Wood Tarver Financial Group LLC bought a new stake in shares of Docusign during the fourth quarter valued at approximately $37,000. MassMutual Private Wealth & Trust FSB lifted its holdings 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 buying an additional 274 shares in the last quarter. McIlrath & Eck LLC lifted its holdings 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 buying an additional 357 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position 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 acquiring an additional 392 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Docusign

In other Docusign news, insider Robert Chatwani sold 22,875 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider owned 72,126 shares of the company's stock, valued at $5,394,303.54. This trade represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $74.37, for a total value of $39,713.58. Following the transaction, the director directly owned 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. In the last ninety days, insiders have sold 46,552 shares of company stock worth $3,491,951. Insiders own 1.01% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DOCU shares. JMP Securities reiterated a "market outperform" rating and issued a $124.00 price target on shares of Docusign in a report on Tuesday, June 3rd. UBS Group cut their price objective on Docusign from $85.00 to $80.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. Jefferies Financial Group decreased their target price on Docusign from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. William Blair reissued an "outperform" rating on shares of Docusign in a research note on Monday, April 21st. Finally, 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. Twelve 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, Docusign presently has an average rating of "Hold" and an average target price of $89.77.

Docusign Trading Up 2.4%

Shares of NASDAQ DOCU traded up $1.82 during trading hours on Thursday, hitting $78.97. 1,921,166 shares of the company traded hands, compared to its average volume of 2,862,845. The company's 50 day moving average price is $82.33 and its 200 day moving average price is $84.82. Docusign Inc. has a 12 month low of $48.80 and a 12 month high of $107.86. The stock has a market capitalization of $15.96 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 28.79 and a beta of 1.08.

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

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

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.