Consolidated Planning Corp Takes $3.21 Million Position in Docusign Inc. (NASDAQ:DOCU)

Consolidated Planning Corp bought a new stake in Docusign Inc. (NASDAQ:DOCU - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 39,453 shares of the company's stock, valued at approximately $3,211,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of DOCU. Citizens Financial Group Inc. RI boosted its stake in Docusign by 2.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock worth $539,000 after buying an additional 133 shares during the last quarter. Rakuten Securities Inc. increased its stake in shares of Docusign by 20.9% in the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock worth $72,000 after acquiring an additional 138 shares during the last quarter. Synergy Financial Group LTD raised its holdings in shares of Docusign by 3.4% during the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company's stock worth $381,000 after acquiring an additional 140 shares during the period. M&T Bank Corp boosted its position in shares of Docusign by 1.3% during the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company's stock valued at $975,000 after acquiring an additional 143 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in shares of Docusign by 34.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company's stock valued at $50,000 after acquiring an additional 143 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company raised shares of Docusign from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $67.00 to $80.00 in a research note on Friday, June 13th. HSBC upgraded shares of Docusign from a "reduce" rating to a "hold" rating and set a $70.00 price target for the company in a report on Friday, April 11th. Hsbc Global Res upgraded Docusign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $90.00 price objective on shares of Docusign in a research report on Friday, March 14th. Finally, Citigroup cut their target price on Docusign from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Monday, June 9th. Twelve equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $89.77.

Insider Activity at Docusign

In other news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $76.09, for a total value of $608,720.00. Following the sale, the chief financial officer now directly owns 86,156 shares in the company, valued at approximately $6,555,610.04. This trade represents a 8.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Chatwani sold 22,875 shares of the business'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 now directly owns 72,126 shares of the company's stock, valued at $5,394,303.54. The trade was a 24.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,052 shares of company stock worth $4,101,776. Corporate insiders own 1.01% of the company's stock.

Docusign Stock Performance

Shares of NASDAQ DOCU traded up $0.54 during trading on Thursday, reaching $75.55. The stock had a trading volume of 2,025,190 shares, compared to its average volume of 2,861,231. The company has a market cap of $15.27 billion, a P/E ratio of 14.28, a PEG ratio of 28.45 and a beta of 1.14. Docusign Inc. has a fifty-two week low of $48.80 and a fifty-two week high of $107.86. The business's 50-day moving average price is $82.15 and its 200-day moving average price is $85.31.

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

Docusign announced that its board has authorized a share buyback program on Thursday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

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.