DekaBank Deutsche Girozentrale Sells 4,869 Shares of Docusign Inc. (NASDAQ:DOCU)

DekaBank Deutsche Girozentrale lessened its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 13.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,691 shares of the company's stock after selling 4,869 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Docusign were worth $2,499,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC bought a new position in Docusign during the first quarter worth about $618,000. Gilman Hill Asset Management LLC boosted its stake in shares of Docusign by 4.9% during the 1st quarter. Gilman Hill Asset Management LLC now owns 84,326 shares of the company's stock worth $6,864,000 after acquiring an additional 3,904 shares during the period. Paradiem LLC bought a new position in shares of Docusign during the 1st quarter worth approximately $4,357,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Docusign by 528.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 108,232 shares of the company's stock worth $8,810,000 after acquiring an additional 91,017 shares during the last quarter. Finally, Kentucky Retirement Systems bought a new stake in Docusign in the 1st quarter valued at $1,114,000. Institutional investors own 77.64% of the company's stock.

Docusign Price Performance

DOCU traded up $2.66 on Monday, hitting $76.21. The company had a trading volume of 3,026,745 shares, compared to its average volume of 2,668,529. The stock has a fifty day simple moving average of $81.72 and a 200-day simple moving average of $83.80. The firm has a market capitalization of $15.40 billion, a P/E ratio of 14.41, a P/E/G ratio of 27.45 and a beta of 1.08. Docusign Inc. has a 52-week low of $48.80 and a 52-week high of $107.86.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.90 EPS for the quarter, topping 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 return on equity of 14.27% and a net margin of 36.50%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 EPS. Equities research analysts expect that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 15,143 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $74.80, for a total value of $1,132,696.40. Following the sale, the chief financial officer owned 110,723 shares in the company, valued at approximately $8,282,080.40. This trade represents a 12.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 stock was 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 trade represents a 24.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,552 shares of company stock valued at $6,592,351. 1.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of research reports. Wedbush decreased their price target on shares of Docusign from $100.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday, June 12th. Bank of America reduced their price objective on Docusign from $88.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Robert W. Baird lowered their target price on Docusign from $93.00 to $85.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. Jefferies Financial Group dropped their price target on Docusign from $115.00 to $105.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Hsbc Global Res raised Docusign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $89.77.

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.