Grimes & Company Inc. Sells 243,644 Shares of Docusign Inc. (NASDAQ:DOCU)

Grimes & Company Inc. cut its holdings in Docusign Inc. (NASDAQ:DOCU - Free Report) by 95.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,975 shares of the company's stock after selling 243,644 shares during the period. Grimes & Company Inc.'s holdings in Docusign were worth $893,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DOCU. Kestra Investment Management LLC bought a new position in shares of Docusign in the fourth quarter valued at approximately $30,000. First Horizon Advisors Inc. grew its holdings in Docusign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after purchasing an additional 201 shares during the period. Wood Tarver Financial Group LLC bought a new position in Docusign during the fourth quarter valued at $37,000. MassMutual Private Wealth & Trust FSB grew its holdings in Docusign by 153.1% during 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 during the period. Finally, McIlrath & Eck LLC grew its holdings in Docusign by 476.0% during 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 during the period. 77.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Docusign

In other Docusign news, insider James P. Shaughnessy sold 7,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total transaction of $609,825.00. Following the sale, the insider now owns 45,875 shares in the company, valued at $3,730,096.25. This trade represents a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $74.37, for a total value of $39,713.58. Following the sale, the director now owns 8,805 shares in the company, valued at $654,827.85. The trade was a 5.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,052 shares of company stock worth $4,101,776 over the last 90 days. Corporate insiders own 1.01% of the company's stock.

Docusign Stock Down 0.2%

Shares of DOCU stock traded down $0.12 on Friday, reaching $75.13. The company's stock had a trading volume of 4,871,439 shares, compared to its average volume of 2,859,510. Docusign Inc. has a 12-month low of $48.80 and a 12-month high of $107.86. The company has a market capitalization of $15.18 billion, a P/E ratio of 14.20, a PEG ratio of 28.49 and a beta of 1.14. The stock's 50 day simple moving average is $82.23 and its 200-day simple moving average is $85.85.

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

Docusign announced that its board has authorized a share buyback plan on Thursday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

DOCU has been the subject of several research reports. Citigroup reduced their price objective on Docusign from $115.00 to $110.00 and set a "buy" rating for the company in a report on Monday, June 9th. Wedbush reduced their price objective on Docusign from $100.00 to $85.00 and set a "neutral" rating for the company in a report on Thursday, June 12th. Hsbc Global Res upgraded Docusign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. Needham & Company LLC restated a "hold" rating on shares of Docusign in a research report on Friday, June 6th. Finally, JMP Securities restated a "market outperform" rating and set a $124.00 target price on shares of Docusign in a research report on Tuesday, June 3rd. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $89.77.

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.