Audent Global Asset Management LLC Has $436,000 Stock Position in Docusign Inc. (NASDAQ:DOCU)

Audent Global Asset Management LLC trimmed its stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 80.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,358 shares of the company's stock after selling 22,067 shares during the period. Audent Global Asset Management LLC's holdings in Docusign were worth $436,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DOCU. Golden State Wealth Management LLC lifted its holdings in shares of Docusign by 519.4% during the first quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock valued at $31,000 after purchasing an additional 322 shares during the last quarter. Wood Tarver Financial Group LLC purchased a new stake in shares of Docusign during the fourth quarter valued at $37,000. MassMutual Private Wealth & Trust FSB raised its position in Docusign by 153.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock valued at $37,000 after buying an additional 274 shares during the period. McIlrath & Eck LLC raised its position in Docusign by 476.0% during the fourth quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock valued at $39,000 after buying an additional 357 shares during the period. Finally, Bessemer Group Inc. raised its position in Docusign by 490.0% during the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company's stock valued at $42,000 after buying an additional 392 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DOCU. JMP Securities reissued a "market outperform" rating and set a $124.00 price target on shares of Docusign in a research report on Tuesday, June 3rd. Morgan Stanley decreased their price target 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. Royal Bank Of Canada reiterated a "sector perform" rating and set a $90.00 price target on shares of Docusign in a research note on Friday, March 14th. Robert W. Baird lowered their target price on Docusign from $93.00 to $85.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. Finally, HSBC raised Docusign from a "reduce" rating to a "hold" rating and set a $70.00 target price on the stock 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 stock. According to MarketBeat, Docusign has an average rating of "Hold" and an average price target of $89.77.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 40,000 shares of Docusign stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $77.51, for a total value of $3,100,400.00. Following the completion of the sale, the chief executive officer directly owned 143,983 shares of the company's stock, valued at approximately $11,160,122.33. This trade represents a 21.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the sale, the insider directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 86,552 shares of company stock valued at $6,592,351. Company insiders own 1.01% of the company's stock.

Docusign Price Performance

Shares of DOCU traded up $1.82 during mid-day trading on Friday, reaching $78.97. The company had a trading volume of 1,921,166 shares, compared to its average volume of 2,862,845. Docusign Inc. has a twelve month low of $48.80 and a twelve month high of $107.86. The company's 50-day moving average is $82.20 and its 200-day moving average is $84.56. The company has a market capitalization of $15.96 billion, a P/E ratio of 14.93, a P/E/G ratio of 29.49 and a beta of 1.08.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly 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. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The firm had revenue of $763.65 million during the quarter, compared to analysts' expectations of $748.79 million. During the same period last year, the firm posted $0.82 EPS. The business's revenue was up 7.6% on a year-over-year basis. As a group, equities analysts expect that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign announced that its board has approved a stock buyback plan on Thursday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board 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.