Gilman Hill Asset Management LLC Has $6.86 Million Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

Gilman Hill Asset Management LLC lifted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 4.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,326 shares of the company's stock after purchasing an additional 3,904 shares during the quarter. Gilman Hill Asset Management LLC's holdings in DocuSign were worth $6,864,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rhumbline Advisers grew its holdings in DocuSign by 118.8% during the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company's stock worth $54,695,000 after acquiring an additional 330,136 shares during the period. Jennison Associates LLC acquired a new position in DocuSign during the fourth quarter worth about $12,897,000. Principal Financial Group Inc. grew its holdings in DocuSign by 3,026.7% during the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company's stock worth $49,179,000 after acquiring an additional 529,308 shares during the period. Amundi grew its holdings in DocuSign by 565.8% during the fourth quarter. Amundi now owns 1,379,575 shares of the company's stock worth $123,486,000 after acquiring an additional 1,172,368 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in DocuSign during the fourth quarter worth about $882,000. 77.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DOCU shares. Wells Fargo & Company lifted their target price on DocuSign from $65.00 to $67.00 and gave the stock an "underweight" rating in a report on Friday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 target price on shares of DocuSign in a report on Friday, March 14th. William Blair reaffirmed an "outperform" rating on shares of DocuSign in a report on Monday, April 21st. Citigroup lifted their target price on DocuSign from $113.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Finally, UBS Group lowered their target price on DocuSign from $85.00 to $80.00 and set a "neutral" rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $89.15.

Insider Buying and Selling at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the sale, the director now owns 8,270 shares of the company's stock, valued at approximately $722,880.70. The trade was a 6.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total value of $1,340,435.20. Following the completion of the sale, the chief financial officer now directly owns 93,960 shares of the company's stock, valued at approximately $7,817,472. The trade was a 14.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,851 shares of company stock valued at $3,912,239 in the last 90 days. 1.01% of the stock is currently owned by corporate insiders.

DocuSign Trading Down 19.0%

NASDAQ:DOCU traded down $17.62 on Friday, hitting $75.28. 22,572,298 shares of the company's stock traded hands, compared to its average volume of 2,797,809. DocuSign, Inc. has a 1 year low of $48.80 and a 1 year high of $107.86. The firm has a 50-day moving average price of $82.08 and a 200-day moving average price of $86.32. The company has a market cap of $15.24 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 6.94 and a beta of 1.14.

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. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company had revenue of $763.65 million for the quarter, compared to analysts' expectations of $748.79 million. During the same quarter in the previous year, the business posted $0.82 EPS. The business's revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

DocuSign announced that its Board of Directors has approved a stock buyback plan on Thursday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is 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.