Left Brain Wealth Management LLC Sells 4,195 Shares of Docusign Inc. (NASDAQ:DOCU)

Left Brain Wealth Management LLC lessened its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 23.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,364 shares of the company's stock after selling 4,195 shares during the quarter. Left Brain Wealth Management LLC's holdings in Docusign were worth $1,088,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC raised 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 fourth quarter valued at approximately $37,000. McIlrath & Eck LLC grew its stake in Docusign by 476.0% in the fourth quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock valued at $39,000 after purchasing an additional 357 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Docusign by 153.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock valued at $37,000 after purchasing an additional 274 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in Docusign by 490.0% in the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company's stock valued at $42,000 after purchasing an additional 392 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on DOCU shares. Morgan Stanley decreased their price target on Docusign from $92.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, June 6th. HSBC upgraded Docusign from a "reduce" rating to a "hold" rating and set a $70.00 target price for the company in a research note on Friday, April 11th. UBS Group reduced their target price on Docusign from $85.00 to $80.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Needham & Company LLC reiterated a "hold" rating on shares of Docusign in a research note on Friday, June 6th. Finally, Bank of America reduced their target price on Docusign from $88.00 to $85.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Docusign has a consensus rating of "Hold" and a consensus price target of $89.77.

Docusign Stock Performance

Shares of DOCU stock traded up $2.72 on Monday, hitting $76.27. The company had a trading volume of 1,239,380 shares, compared to its average volume of 2,872,641. The firm has a market cap of $15.41 billion, a P/E ratio of 14.42, a P/E/G ratio of 27.45 and a beta of 1.08. The stock's 50-day moving average is $81.72 and its two-hundred day moving average is $83.80. Docusign Inc. has a twelve month low of $48.80 and a twelve month 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 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 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 quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Equities research analysts predict that Docusign Inc. will post 1.17 EPS for the current year.

Docusign declared that its Board of Directors has initiated a stock repurchase program on Thursday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Teresa Briggs sold 534 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $74.37, for a total transaction of $39,713.58. Following the sale, the director owned 8,805 shares in the company, valued at $654,827.85. This represents a 5.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Chatwani sold 22,875 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $74.79, for a total value of $1,710,821.25. Following the sale, the insider owned 72,126 shares in the company, 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. In the last ninety days, insiders sold 86,552 shares of company stock worth $6,592,351. Corporate insiders own 1.66% of the company's stock.

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.