Charles Schwab Investment Management Inc. grew its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,431,901 shares of the company's stock after acquiring an additional 89,948 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.71% of Docusign worth $116,557,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. ASR Vermogensbeheer N.V. purchased a new stake in shares of Docusign in the first quarter valued at $523,000. Hemington Wealth Management raised its stake in shares of Docusign by 318.1% in the first quarter. Hemington Wealth Management now owns 347 shares of the company's stock valued at $28,000 after acquiring an additional 264 shares during the period. Westwood Holdings Group Inc. raised its stake in shares of Docusign by 6.4% in the first quarter. Westwood Holdings Group Inc. now owns 24,361 shares of the company's stock valued at $1,983,000 after acquiring an additional 1,456 shares during the period. Wealthspire Advisors LLC raised its stake in shares of Docusign by 1.9% in the first quarter. Wealthspire Advisors LLC now owns 6,579 shares of the company's stock valued at $536,000 after acquiring an additional 122 shares during the period. Finally, iA Global Asset Management Inc. raised its stake in shares of Docusign by 2.1% in the first quarter. iA Global Asset Management Inc. now owns 7,712 shares of the company's stock valued at $628,000 after acquiring an additional 157 shares during the period. Hedge funds and other institutional investors own 77.64% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently commented on DOCU. Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a research note on Friday, June 6th. Wall Street Zen downgraded shares of Docusign from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Robert W. Baird reduced their price target on shares of Docusign from $93.00 to $85.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. William Blair reaffirmed an "outperform" rating on shares of Docusign in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. dropped their target price 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. Thirteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $89.77.
View Our Latest Stock Analysis on DOCU
Docusign Price Performance
Shares of DOCU traded up $2.20 during mid-day trading on Friday, reaching $71.20. The stock had a trading volume of 1,177,048 shares, compared to its average volume of 2,598,291. Docusign Inc. has a 52-week low of $54.31 and a 52-week high of $107.86. The business's fifty day moving average is $76.01 and its 200 day moving average is $81.41. The firm has a market cap of $14.39 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 26.39 and a beta of 1.01.
Docusign (NASDAQ:DOCU - Get Free Report) last posted its 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 company 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%. Docusign's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 earnings per share. As a group, sell-side analysts anticipate that Docusign Inc. will post 1.17 EPS for the current fiscal year.
Docusign declared that its board has initiated a stock repurchase program on Thursday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its stock is undervalued.
Insider Activity
In related news, Director Teresa Briggs sold 534 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $74.37, for a total transaction of $39,713.58. Following the sale, the director directly owned 8,805 shares in the company, valued at approximately $654,827.85. This represents a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Chatwani sold 22,875 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider owned 72,126 shares in the company, valued at $5,394,303.54. This represents a 24.08% decrease in their ownership of the stock. 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 over the last three months. 1.01% of the stock is currently owned by corporate insiders.
Docusign Profile
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Free Report)
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.
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