Invesco Ltd. Has $279.85 Million Holdings in Docusign Inc. (NASDAQ:DOCU)

Key Points

• Invesco Ltd. has reduced its holdings in Docusign Inc. by 0.3%, now owning approximately 3.4 million shares valued at $279.8 million.
• Analysts have issued mixed ratings for Docusign, with a majority giving it a hold rating and an average price target of $89.77.
• Docusign's board has authorized a $1 billion share buyback plan, indicating confidence in the company's valuation.

Invesco Ltd. lessened its stake in Docusign Inc. (NASDAQ:DOCU - Free Report) by 0.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,437,918 shares of the company's stock after selling 9,357 shares during the period. Invesco Ltd. owned about 1.70% of Docusign worth $279,847,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jericho Capital Asset Management L.P. boosted its holdings in Docusign by 34.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company's stock worth $427,642,000 after purchasing an additional 1,205,500 shares during the period. Northern Trust Corp boosted its holdings in Docusign by 77.2% in the fourth quarter. Northern Trust Corp now owns 1,984,378 shares of the company's stock worth $178,475,000 after purchasing an additional 864,408 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Docusign by 3.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,709,807 shares of the company's stock worth $153,780,000 after purchasing an additional 50,440 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Docusign by 6.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,431,901 shares of the company's stock worth $116,557,000 after purchasing an additional 89,948 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Docusign by 31.8% in the fourth quarter. First Trust Advisors LP now owns 1,324,689 shares of the company's stock worth $119,142,000 after purchasing an additional 319,956 shares during the period. Institutional investors own 77.64% of the company's stock.

Docusign Trading Up 2.8%

DOCU stock traded up $1.90 during trading on Friday, hitting $70.90. The company had a trading volume of 2,107,877 shares, compared to its average volume of 2,234,166. The firm has a market capitalization of $14.33 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 26.46 and a beta of 1.01. The business has a 50 day moving average of $75.92 and a 200 day moving average of $81.13. Docusign Inc. has a fifty-two week low of $54.31 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 earnings per share for the quarter, topping 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 business had revenue of $763.65 million during the quarter, compared to the consensus estimate of $748.79 million. During the same quarter in the prior year, the company posted $0.82 earnings per share. The company's quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts predict that Docusign Inc. will post 1.17 EPS for the current year.

Docusign announced that its board has initiated a stock buyback program on Thursday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JMP Securities reissued a "market outperform" rating and set a $124.00 price target on shares of Docusign in a report on Tuesday, June 3rd. UBS Group reduced their price target on shares of Docusign from $85.00 to $80.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Citigroup reduced their price target on shares of Docusign from $115.00 to $110.00 and set a "buy" rating for the company in a report on Monday, June 9th. Robert W. Baird reduced their price target on shares of Docusign from $93.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Finally, Wedbush reduced their price target on shares of Docusign from $100.00 to $85.00 and set a "neutral" rating for the company in a report on Thursday, June 12th. Thirteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $89.77.

Insider Buying and Selling at Docusign

In other Docusign news, Director Teresa Briggs sold 534 shares of the business'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 directly owned 8,805 shares in the company, valued at approximately $654,827.85. The trade was a 5.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 15,143 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $74.80, for a total transaction of $1,132,696.40. Following the completion of the sale, the chief financial officer owned 110,723 shares in the company, valued at approximately $8,282,080.40. This trade represents a 12.03% 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 in the last ninety days. 1.01% of the stock is owned by insiders.

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.