China Universal Asset Management Co. Ltd. Takes $1.42 Million Position in Docusign Inc. (NASDAQ:DOCU)

China Universal Asset Management Co. Ltd. acquired a new stake in Docusign Inc. (NASDAQ:DOCU - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 17,500 shares of the company's stock, valued at approximately $1,424,000.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its position in Docusign by 519.4% in the 1st quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock valued at $31,000 after buying an additional 322 shares during the last quarter. Wood Tarver Financial Group LLC bought a new position in Docusign in the 4th quarter valued at $37,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Docusign by 153.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock valued at $37,000 after acquiring an additional 274 shares during the last quarter. McIlrath & Eck LLC raised its position in shares of Docusign by 476.0% during the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock valued at $39,000 after acquiring an additional 357 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Docusign by 490.0% during the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company's stock valued at $42,000 after acquiring an additional 392 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

Insider Activity at Docusign

In other news, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction dated 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 $11,160,122.33. This represents a 21.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert Chatwani sold 22,875 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $74.79, for a total transaction of $1,710,821.25. Following the transaction, the insider owned 72,126 shares of the company's stock, valued at approximately $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 sold a total of 86,552 shares of company stock valued at $6,592,351 in the last quarter. 1.01% of the stock is currently owned by company insiders.

Docusign Stock Performance

NASDAQ DOCU traded down $2.81 on Friday, reaching $73.55. The company had a trading volume of 3,292,769 shares, compared to its average volume of 2,877,258. The firm has a market capitalization of $14.86 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 28.50 and a beta of 1.08. Docusign Inc. has a 1-year low of $48.80 and a 1-year high of $107.86. The company's fifty day moving average is $81.72 and its 200-day moving average is $83.96.

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, topping analysts' consensus estimates of $0.81 by $0.09. The firm 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 revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 EPS. On average, research analysts forecast that Docusign Inc. will post 1.17 earnings per share for the current year.

Docusign declared that its board has approved a share buyback program on Thursday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

DOCU has been the subject of several recent research reports. Royal Bank Of Canada reiterated a "sector perform" rating and set a $90.00 target price on shares of Docusign in a research report on Friday, March 14th. JPMorgan Chase & Co. dropped their target price on shares of Docusign from $81.00 to $77.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. Robert W. Baird dropped their target price 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. Citigroup dropped their target price on shares of Docusign from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, June 9th. Finally, Morgan Stanley dropped their target price on shares of Docusign from $92.00 to $86.00 and set an "equal weight" rating for the company in a research report on Friday, June 6th. Twelve research 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.com, Docusign has an average 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.