9,500 Shares in Docusign Inc. (NASDAQ:DOCU) Purchased by Board of the Pension Protection Fund

Board of the Pension Protection Fund purchased a new position in Docusign Inc. (NASDAQ:DOCU - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,500 shares of the company's stock, valued at approximately $773,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Perpetual Ltd lifted its stake in Docusign by 147.2% in the first quarter. Perpetual Ltd now owns 8,154 shares of the company's stock worth $664,000 after acquiring an additional 4,856 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Docusign by 519.4% in the first quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock worth $31,000 after acquiring an additional 322 shares during the last quarter. Bessemer Group Inc. lifted its stake in Docusign by 27.5% in the first quarter. Bessemer Group Inc. now owns 602 shares of the company's stock worth $49,000 after acquiring an additional 130 shares during the last quarter. Spire Wealth Management lifted its stake in Docusign by 947.0% in the first quarter. Spire Wealth Management now owns 1,204 shares of the company's stock worth $98,000 after acquiring an additional 1,089 shares during the last quarter. Finally, Silver Lake Advisory LLC lifted its stake in Docusign by 1.7% in the first quarter. Silver Lake Advisory LLC now owns 40,207 shares of the company's stock worth $3,273,000 after acquiring an additional 660 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

Insider Activity at Docusign

In other news, CFO Blake Jeffrey Grayson sold 15,143 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $74.80, for a total transaction of $1,132,696.40. Following the transaction, the chief financial officer directly owned 110,723 shares of the company's stock, valued at $8,282,080.40. This represents a 12.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 directly owned 8,805 shares in the company, valued at approximately $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. In the last quarter, insiders sold 54,052 shares of company stock valued at $4,101,776. Company insiders own 1.66% of the company's stock.

Docusign Stock Performance

DOCU traded up $1.42 during trading on Monday, hitting $77.89. The stock had a trading volume of 2,375,157 shares, compared to its average volume of 2,862,369. The firm has a market capitalization of $15.74 billion, a P/E ratio of 14.72, a PEG ratio of 29.00 and a beta of 1.14. The company's 50-day moving average price is $82.29 and its 200 day moving average price is $84.92. 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 posted its quarterly earnings results on Thursday, June 5th. The company reported $0.90 earnings per share 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 business had revenue of $763.65 million for the quarter, compared to analysts' expectations of $748.79 million. During the same period in the prior year, the company posted $0.82 EPS. The business's revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities analysts expect that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

Docusign announced that its board has approved a stock repurchase program on Thursday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows 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.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Hsbc Global Res upgraded shares of Docusign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. Robert W. Baird reduced their price objective on shares of Docusign from $93.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. Bank of America reduced their price objective on shares of Docusign from $88.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. JMP Securities restated a "market outperform" rating and set a $124.00 price objective on shares of Docusign in a research report on Tuesday, June 3rd. Finally, 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 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, the stock presently has a consensus rating of "Hold" and an average target price of $89.77.

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.