Assenagon Asset Management S.A. Sells 171,399 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Assenagon Asset Management S.A. decreased its holdings in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 41.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 239,613 shares of the company's stock after selling 171,399 shares during the quarter. Assenagon Asset Management S.A. owned about 0.12% of DocuSign worth $19,504,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. FMR LLC increased its position in shares of DocuSign by 178.2% in the fourth quarter. FMR LLC now owns 6,101,024 shares of the company's stock valued at $548,726,000 after buying an additional 3,908,139 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of DocuSign by 18.5% during the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company's stock worth $478,072,000 after acquiring an additional 831,611 shares during the period. Jericho Capital Asset Management L.P. raised its holdings in DocuSign by 34.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company's stock valued at $427,642,000 after buying an additional 1,205,500 shares during the period. Renaissance Technologies LLC lifted its stake in shares of DocuSign by 4.9% during the fourth quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company's stock worth $392,434,000 after purchasing an additional 205,304 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of DocuSign by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company's stock worth $335,147,000 after buying an additional 249,179 shares during the period. Hedge funds and other institutional investors own 77.64% of the company's stock.

Insider Transactions at DocuSign

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $76.09, for a total value of $608,720.00. Following the completion of the sale, the chief financial officer now directly owns 86,156 shares of the company's stock, valued at approximately $6,555,610.04. This trade represents a 8.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares of the company's stock, valued at $722,880.70. This trade represents a 6.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,851 shares of company stock valued at $3,912,239. Corporate insiders own 1.01% of the company's stock.

DocuSign Stock Down 2.6%

Shares of NASDAQ:DOCU traded down $1.95 on Friday, reaching $74.06. The company had a trading volume of 3,322,576 shares, compared to its average volume of 2,849,306. DocuSign, Inc. has a twelve month low of $48.80 and a twelve month high of $107.86. The stock has a 50-day moving average price of $82.21 and a 200 day moving average price of $86.01. The stock has a market capitalization of $14.96 billion, a P/E ratio of 15.27, a P/E/G ratio of 6.94 and a beta of 1.14.

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, topping the consensus estimate of $0.81 by $0.09. The business had revenue of $763.65 million during the quarter, compared to analysts' expectations of $748.79 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 EPS. On average, sell-side analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

DocuSign declared that its board has initiated a stock buyback program on Thursday, June 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently commented on DOCU shares. Hsbc Global Res raised DocuSign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. Jefferies Financial Group cut their price target on DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, March 31st. JMP Securities reissued a "market outperform" rating and issued a $124.00 price target on shares of DocuSign in a report on Tuesday, June 3rd. Morgan Stanley cut their price target on DocuSign from $92.00 to $86.00 and set an "equal weight" rating on the stock in a report on Friday, June 6th. Finally, Bank of America cut their price target on DocuSign from $88.00 to $85.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $89.77.

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.