KBC Group NV Sells 92,544 Shares of Docusign Inc. (NASDAQ:DOCU)

KBC Group NV trimmed its position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,442,563 shares of the company's stock after selling 92,544 shares during the quarter. KBC Group NV owned 0.71% of Docusign worth $117,425,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. raised its holdings in shares of Docusign by 27.5% during the first quarter. Bessemer Group Inc. now owns 602 shares of the company's stock worth $49,000 after acquiring an additional 130 shares during the period. Citizens Financial Group Inc. RI raised its holdings in shares of Docusign by 2.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company's stock worth $539,000 after acquiring an additional 133 shares during the period. Rakuten Securities Inc. raised its holdings in shares of Docusign by 20.9% during the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company's stock worth $72,000 after acquiring an additional 138 shares during the period. M&T Bank Corp raised its holdings in shares of Docusign by 1.3% during the fourth quarter. M&T Bank Corp now owns 10,840 shares of the company's stock worth $975,000 after acquiring an additional 143 shares during the period. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Docusign by 34.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company's stock worth $50,000 after acquiring an additional 143 shares during the period. 77.64% of the stock is owned by institutional investors.

Docusign Trading Up 1.2%

Shares of DOCU traded up $0.92 during midday trading on Friday, reaching $76.47. The stock had a trading volume of 3,300,976 shares, compared to its average volume of 2,864,320. The firm has a 50 day simple moving average of $82.17 and a 200-day simple moving average of $85.11. Docusign Inc. has a one year low of $48.80 and a one year high of $107.86. The firm has a market cap of $15.45 billion, a PE ratio of 14.46, a P/E/G ratio of 29.00 and a beta of 1.14.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $748.79 million. During the same quarter last year, the firm posted $0.82 EPS. The company's quarterly revenue was up 7.6% on a year-over-year basis. As a group, research analysts forecast that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign announced that its board has initiated a share buyback plan on Thursday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. HSBC upgraded shares of Docusign from a "reduce" rating to a "hold" rating and set a $70.00 price objective on the stock in a report on Friday, April 11th. Jefferies Financial Group dropped their price objective on shares of Docusign from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Needham & Company LLC restated a "hold" rating on shares of Docusign in a report on Friday, June 6th. Morgan Stanley lowered their price target on shares of Docusign from $92.00 to $86.00 and set an "equal weight" rating on the stock in a research note on Friday, June 6th. Finally, 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 note on Friday, June 6th. Twelve investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $89.77.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of Docusign stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total transaction of $608,720.00. Following the completion of the sale, the chief financial officer now owns 86,156 shares of the company's stock, valued at approximately $6,555,610.04. The trade was a 8.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James P. Shaughnessy sold 7,500 shares of Docusign 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 directly owns 45,875 shares of the company's stock, valued at $3,730,096.25. The trade was a 14.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,052 shares of company stock valued at $4,101,776. Company insiders own 1.01% 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.