Docusign Inc. (NASDAQ:DOCU) Shares Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its holdings in Docusign Inc. by 71.8% during Q1, owning 28,075 shares valued at $2,285,000.
• Docusign reported a quarterly earnings per share of $0.90, exceeding analysts' expectations of $0.81, with revenue of $763.65 million, a 7.6% increase year-over-year.
• The company's Board of Directors authorized a $1.00 billion share repurchase plan, indicating confidence in the stock's valuation.

XTX Topco Ltd grew its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 71.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,075 shares of the company's stock after buying an additional 11,731 shares during the period. XTX Topco Ltd's holdings in Docusign were worth $2,285,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DOCU. Golden State Wealth Management LLC grew its stake in shares of 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 period. Wood Tarver Financial Group LLC purchased a new stake in shares of Docusign in the 4th quarter valued at approximately $37,000. MassMutual Private Wealth & Trust FSB boosted 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 worth $37,000 after purchasing an additional 274 shares during the period. McIlrath & Eck LLC boosted 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 worth $39,000 after purchasing an additional 357 shares during the period. Finally, Bessemer Group Inc. boosted 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 worth $42,000 after purchasing an additional 392 shares during the period. Hedge funds and other institutional investors own 77.64% of the company's stock.

Insider Activity

In other news, CEO Allan C. Thygesen sold 40,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $77.51, for a total value of $3,100,400.00. Following the sale, the chief executive officer directly owned 143,983 shares in the company, valued at approximately $11,160,122.33. This trade represents a 21.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Chatwani sold 22,875 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $74.79, for a total transaction of $1,710,821.25. Following the completion of the sale, the insider owned 72,126 shares in the company, 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. Insiders have sold a total of 78,552 shares of company stock valued at $5,983,631 over the last quarter. Company insiders own 1.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DOCU shares. Citigroup lowered their price objective 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. William Blair reaffirmed an "outperform" rating on shares of Docusign in a research report on Monday, April 21st. Hsbc Global Res raised shares of Docusign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. Wells Fargo & Company raised shares of Docusign from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $67.00 to $80.00 in a research report on Friday, June 13th. Finally, UBS Group lowered their price objective on shares of Docusign from $85.00 to $80.00 and set a "neutral" 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 stock. Based on data from MarketBeat.com, Docusign presently has an average rating of "Hold" and a consensus price target of $89.77.

Docusign Stock Down 2.4%

DOCU stock traded down $1.80 during midday trading on Friday, hitting $73.84. The company's stock had a trading volume of 1,871,136 shares, compared to its average volume of 2,088,222. Docusign Inc. has a 52-week low of $48.80 and a 52-week high of $107.86. The firm has a market capitalization of $14.92 billion, a P/E ratio of 13.96, a PEG ratio of 28.23 and a beta of 1.01. The firm has a 50-day simple moving average of $79.18 and a 200-day simple moving average of $82.66.

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, beating the consensus estimate of $0.81 by $0.09. Docusign had a net margin of 36.50% and a return on equity of 14.27%. The company had revenue of $763.65 million during the quarter, compared to analysts' expectations of $748.79 million. During the same quarter last year, the company posted $0.82 EPS. The firm's revenue was up 7.6% compared to the same quarter last year. On average, sell-side 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 authorized a share buyback plan on Thursday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

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.