Blair William & Co. IL Has $31.55 Million Stake in Docusign Inc. (NASDAQ:DOCU)

Key Points

• Blair William & Co. IL has increased its holdings in Docusign Inc. to approximately $31.55 million, owning 387,542 shares after acquiring an additional 6,460 shares in the first quarter.
• CEO Allan C. Thygesen sold 40,000 shares valued at $3.1 million, leading to a 21.74% decrease in his ownership stake.
• Docusign's stock is currently valued at $73.84, with a market cap of $14.92 billion and has experienced a 2.4% decline recently.

Blair William & Co. IL boosted its holdings in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 387,542 shares of the company's stock after purchasing an additional 6,460 shares during the quarter. Blair William & Co. IL owned about 0.19% of Docusign worth $31,546,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC raised its holdings in Docusign by 178.2% in the 4th quarter. FMR LLC now owns 6,101,024 shares of the company's stock valued at $548,726,000 after acquiring an additional 3,908,139 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Docusign by 283.9% in the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock worth $310,048,000 after buying an additional 2,549,310 shares in the last quarter. Jericho Capital Asset Management L.P. raised its holdings in shares of Docusign by 34.0% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company's stock worth $427,642,000 after buying an additional 1,205,500 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Docusign by 809.6% in the 1st quarter. Pacer Advisors Inc. now owns 1,167,290 shares of the company's stock worth $95,017,000 after buying an additional 1,038,962 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Docusign by 77.2% in the 4th quarter. Northern Trust Corp now owns 1,984,378 shares of the company's stock worth $178,475,000 after buying an additional 864,408 shares in the last quarter. Institutional investors own 77.64% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a report on Friday, June 6th. Morgan Stanley decreased their price objective on Docusign from $92.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Friday, June 6th. Hsbc Global Res upgraded Docusign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. Wall Street Zen lowered Docusign from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, UBS Group decreased their price objective on Docusign from $85.00 to $80.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. Thirteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Docusign presently has an average rating of "Hold" and an average price target of $89.77.

Docusign Price Performance

DOCU traded up $1.30 during trading on Wednesday, hitting $75.14. 1,712,394 shares of the stock traded hands, compared to its average volume of 2,113,442. Docusign Inc. has a twelve month low of $50.78 and a twelve month high of $107.86. The company has a market cap of $15.18 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 27.56 and a beta of 1.01. The business has a 50 day moving average price of $78.75 and a 200 day moving average price of $82.38.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.90 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $748.79 million. During the same period in the previous year, the business earned $0.82 earnings per share. The company's revenue was up 7.6% on a year-over-year basis. On average, equities research analysts predict that Docusign Inc. will post 1.17 earnings per share for the current year.

Docusign declared that its Board of Directors has initiated a stock repurchase program on Thursday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes 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.

Insider Activity

In other news, CEO Allan C. Thygesen sold 40,000 shares of the company's 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 directly owned 143,983 shares in the company, valued at approximately $11,160,122.33. This represents a 21.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Teresa Briggs sold 534 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $74.37, for a total transaction of $39,713.58. Following the transaction, the director owned 8,805 shares of the company's stock, valued at $654,827.85. This trade represents a 5.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,552 shares of company stock valued at $5,983,631 in the last three months. Company insiders own 1.01% of the company's stock.

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.