Ceera Investments LLC Cuts Stock Holdings in Docusign Inc. (NASDAQ:DOCU)

Ceera Investments LLC trimmed its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,697 shares of the company's stock after selling 3,338 shares during the period. Docusign accounts for approximately 2.2% of Ceera Investments LLC's investment portfolio, making the stock its 12th biggest holding. Ceera Investments LLC's holdings in Docusign were worth $6,406,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gilman Hill Asset Management LLC increased its holdings in shares of Docusign by 4.9% in the first quarter. Gilman Hill Asset Management LLC now owns 84,326 shares of the company's stock valued at $6,864,000 after purchasing an additional 3,904 shares during the period. Amundi raised its position in Docusign by 565.8% during the 4th quarter. Amundi now owns 1,379,575 shares of the company's stock worth $123,486,000 after buying an additional 1,172,368 shares during the last quarter. Paradiem LLC purchased a new position in Docusign during the 1st quarter worth approximately $4,357,000. Wealth Enhancement Advisory Services LLC lifted its stake in Docusign by 528.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 108,232 shares of the company's stock valued at $8,810,000 after acquiring an additional 91,017 shares during the period. Finally, Kentucky Retirement Systems purchased a new stake in shares of Docusign in the 1st quarter valued at $1,114,000. Hedge funds and other institutional investors own 77.64% of the company's stock.

Docusign Stock Up 0.4%

Shares of NASDAQ DOCU traded up $0.31 during trading on Tuesday, hitting $77.95. The company had a trading volume of 1,878,775 shares, compared to its average volume of 2,866,616. The firm has a market capitalization of $15.75 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 28.98 and a beta of 1.08. The stock has a fifty day simple moving average of $82.03 and a two-hundred day simple moving average of $84.27. Docusign Inc. has a fifty-two week low of $48.80 and a fifty-two week high of $107.86.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.81 by $0.09. The company had revenue of $763.65 million during the quarter, compared to analyst estimates of $748.79 million. Docusign had a return on equity of 14.27% and a net margin of 36.50%. Docusign's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 EPS. On average, analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current year.

Docusign declared that its board has authorized a stock repurchase plan on Thursday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Hsbc Global Res upgraded shares of Docusign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. 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. JMP Securities reaffirmed a "market outperform" rating and set a $124.00 target price on shares of Docusign in a report on Tuesday, June 3rd. 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 report on Friday, June 6th. Finally, Wedbush dropped their price objective 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. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $89.77.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 15,143 shares of the company's stock in a transaction dated 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 completion of the sale, the chief financial officer owned 110,723 shares of the company's stock, valued at approximately $8,282,080.40. This 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 this link. Also, insider Robert Chatwani sold 22,875 shares of Docusign stock in a transaction dated 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 transaction, the insider directly owned 72,126 shares in the company, valued at $5,394,303.54. This trade represents a 24.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,552 shares of company stock valued at $6,592,351 in the last quarter. 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.