Docusign Inc. (NASDAQ:DOCU) Shares Sold by Ceera Investments LLC

Ceera Investments LLC trimmed its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,697 shares of the company's stock after selling 3,338 shares during the quarter. Docusign makes up 2.2% of Ceera Investments LLC's portfolio, making the stock its 12th biggest position. 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 institutional investors and hedge funds have also modified their holdings of DOCU. Golden State Wealth Management LLC boosted its holdings in shares of Docusign by 519.4% during the first quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock worth $31,000 after acquiring an additional 322 shares during the period. Wood Tarver Financial Group LLC bought a new stake in shares of Docusign in the 4th quarter valued at $37,000. McIlrath & Eck LLC increased its position in Docusign by 476.0% in the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock valued at $39,000 after buying an additional 357 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of 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 buying an additional 274 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in Docusign by 490.0% in the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company's stock valued at $42,000 after buying an additional 392 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DOCU. HSBC raised shares of Docusign from a "reduce" rating to a "hold" rating and set a $70.00 target price for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. lowered their price target on shares of Docusign from $81.00 to $77.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. Hsbc Global Res upgraded Docusign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. Morgan Stanley reduced their price objective on shares of Docusign from $92.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, June 6th. Finally, UBS Group dropped their target price 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 assigned a buy rating to the company. According to data from MarketBeat.com, Docusign currently has an average rating of "Hold" and an average target price of $89.77.

Insider Activity

In other Docusign news, Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $74.37, for a total transaction of $39,713.58. Following the completion of the transaction, the director owned 8,805 shares in the company, valued at $654,827.85. This trade represents a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Allan C. Thygesen sold 40,000 shares of Docusign stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $77.51, for a total value of $3,100,400.00. Following the completion of the transaction, the chief executive officer owned 143,983 shares of the company's stock, valued at approximately $11,160,122.33. This trade represents a 21.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,552 shares of company stock worth $6,592,351 in the last quarter. 1.66% of the stock is currently owned by insiders.

Docusign Stock Down 1.7%

Shares of Docusign stock traded down $1.38 during trading hours on Monday, reaching $77.64. 2,256,764 shares of the stock traded hands, compared to its average volume of 2,865,457. The company has a 50 day moving average price of $82.11 and a 200 day moving average price of $84.31. The firm has a market capitalization of $15.69 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 29.49 and a beta of 1.08. Docusign Inc. has a one year low of $48.80 and a one year high of $107.86.

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. The company had revenue of $763.65 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. Sell-side analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current year.

Docusign announced that its Board of Directors has authorized a stock buyback program on Thursday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Docusign Company 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.