Cerity Partners LLC Acquires 10,696 Shares of Docusign Inc. (NASDAQ:DOCU)

Cerity Partners LLC lifted its position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 10.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,507 shares of the company's stock after purchasing an additional 10,696 shares during the period. Cerity Partners LLC owned 0.06% of Docusign worth $9,077,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new stake in Docusign in the fourth quarter worth about $4,724,000. Independent Advisor Alliance lifted its holdings in Docusign by 12.9% in the fourth quarter. Independent Advisor Alliance now owns 5,042 shares of the company's stock worth $453,000 after buying an additional 577 shares during the period. Moors & Cabot Inc. purchased a new stake in Docusign in the fourth quarter worth about $237,000. Avantax Advisory Services Inc. lifted its holdings in Docusign by 2.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 16,683 shares of the company's stock worth $1,500,000 after buying an additional 368 shares during the period. Finally, Frank Rimerman Advisors LLC purchased a new stake in Docusign in the fourth quarter worth about $285,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity 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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 22,875 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $74.79, for a total transaction of $1,710,821.25. Following the sale, the insider directly owned 72,126 shares of the company's stock, valued at approximately $5,394,303.54. The trade was a 24.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,552 shares of company stock valued at $5,983,631 in the last quarter. 1.01% of the stock is currently owned by corporate insiders.

Docusign Price Performance

NASDAQ DOCU traded up $1.09 during mid-day trading on Friday, reaching $78.71. The stock had a trading volume of 850,556 shares, compared to its average volume of 2,874,447. The stock has a market cap of $15.90 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 28.79 and a beta of 1.08. The company has a fifty day moving average price of $81.24 and a 200 day moving average price of $83.48. Docusign Inc. has a 1 year low of $48.80 and a 1 year high of $107.86.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its 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. The business had revenue of $763.65 million during the quarter, compared to analyst estimates of $748.79 million. Docusign had a net margin of 36.50% and a return on equity of 14.27%. The company's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 EPS. As a group, equities research analysts expect that Docusign Inc. will post 1.17 earnings per share for the current year.

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

Analyst Ratings Changes

Several analysts have commented on DOCU shares. JMP Securities restated a "market outperform" rating and issued a $124.00 price objective on shares of Docusign in a report on Tuesday, June 3rd. Citigroup lowered their target price on shares of Docusign from $115.00 to $110.00 and set a "buy" rating for the company in a report on Monday, June 9th. Wedbush lowered their target price on shares of Docusign from $100.00 to $85.00 and set a "neutral" rating for the company in a report on Thursday, June 12th. Needham & Company LLC reiterated a "hold" rating on shares of Docusign in a report on Friday, June 6th. Finally, Bank of America lowered their target price on shares of Docusign from $88.00 to $85.00 and set a "neutral" rating for the company 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 company. Based on data from MarketBeat, Docusign presently has a consensus rating of "Hold" and a consensus target price 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.