Brown Advisory Inc. Takes Position in Docusign Inc. (NASDAQ:DOCU)

Brown Advisory Inc. purchased a new stake in Docusign Inc. (NASDAQ:DOCU - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,507 shares of the company's stock, valued at approximately $285,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOCU. Avantax Advisory Services Inc. lifted its position in Docusign by 2.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 16,683 shares of the company's stock worth $1,500,000 after acquiring an additional 368 shares during the last quarter. Natixis Advisors LLC increased its stake in Docusign by 81.1% in the fourth quarter. Natixis Advisors LLC now owns 25,457 shares of the company's stock valued at $2,290,000 after purchasing an additional 11,399 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Docusign during the fourth quarter worth about $300,000. Signaturefd LLC boosted its holdings in Docusign by 12.2% during the fourth quarter. Signaturefd LLC now owns 1,686 shares of the company's stock worth $152,000 after purchasing an additional 183 shares during the last quarter. Finally, Primecap Management Co. CA boosted its holdings in Docusign by 17.8% during the fourth quarter. Primecap Management Co. CA now owns 574,530 shares of the company's stock worth $51,673,000 after purchasing an additional 86,690 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Docusign

In other Docusign news, CFO Blake Jeffrey Grayson sold 15,143 shares of the business'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 sale, the chief financial officer directly owned 110,723 shares in the company, valued at approximately $8,282,080.40. The trade was a 12.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Chatwani sold 22,875 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $74.79, for a total value of $1,710,821.25. Following the transaction, the insider owned 72,126 shares in the company, 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. In the last three months, insiders sold 78,552 shares of company stock worth $5,983,631. 1.01% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on DOCU. JPMorgan Chase & Co. decreased their price target on shares of Docusign from $81.00 to $77.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. Citigroup reduced their price objective on shares of Docusign from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Monday, June 9th. Jefferies Financial Group reduced their price target on shares of Docusign from $115.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, March 31st. William Blair reissued an "outperform" rating on shares of Docusign in a report on Monday, April 21st. Finally, HSBC upgraded shares of Docusign from a "reduce" rating to a "hold" rating and set a $70.00 price objective on the stock in a research report on Friday, April 11th. Twelve investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Docusign currently has a consensus rating of "Hold" and an average price target of $89.77.

Docusign Stock Performance

Shares of DOCU traded up $1.75 during trading hours on Friday, reaching $79.37. The stock had a trading volume of 1,956,220 shares, compared to its average volume of 2,889,264. 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 $16.04 billion, a PE ratio of 15.00, a PEG ratio of 29.62 and a beta of 1.08. The company's 50-day moving average is $81.16 and its two-hundred day moving average is $83.37.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.09. The firm had revenue of $763.65 million for the quarter, compared to analysts' expectations of $748.79 million. Docusign had a net margin of 36.50% and a return on equity of 14.27%. The business's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 earnings per share. Equities analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

Docusign announced that its board has authorized a stock buyback plan on Thursday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

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.