Nisa Investment Advisors LLC Sells 9,128 Shares of Docusign Inc. (NASDAQ:DOCU)

Nisa Investment Advisors LLC reduced its stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 32.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,010 shares of the company's stock after selling 9,128 shares during the period. Nisa Investment Advisors LLC's holdings in Docusign were worth $1,547,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its holdings in Docusign by 519.4% in the 1st quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock worth $31,000 after buying an additional 322 shares during the period. Wood Tarver Financial Group LLC purchased a new stake in shares of Docusign during the 4th quarter valued at $37,000. McIlrath & Eck LLC raised its position in shares of Docusign by 476.0% during 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 grew its holdings in shares of Docusign by 153.1% during the 1st 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 last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Docusign by 490.0% during the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company's stock valued at $42,000 after purchasing an additional 392 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Docusign

In other news, CFO Blake Jeffrey Grayson sold 15,143 shares of the stock in a transaction on 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 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 legal filing with the SEC, which can be accessed through this link. Also, insider Robert Chatwani sold 22,875 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $74.79, for a total transaction of $1,710,821.25. Following the completion of the sale, the insider directly owned 72,126 shares in the company, valued at approximately $5,394,303.54. This represents a 24.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,552 shares of company stock worth $5,983,631 in the last ninety days. Company insiders own 1.01% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DOCU shares. Jefferies Financial Group cut their price target 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. JPMorgan Chase & Co. lowered their price target on shares of Docusign from $81.00 to $77.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. Hsbc Global Res raised shares of Docusign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. William Blair reissued an "outperform" rating on shares of Docusign in a report on Monday, April 21st. Finally, Morgan Stanley decreased their price objective on shares of Docusign from $92.00 to $86.00 and set an "equal weight" rating for the company in a report on Friday, June 6th. Twelve equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $89.77.

Docusign Stock Performance

Shares of DOCU traded up $1.37 during mid-day trading on Wednesday, reaching $77.14. The stock had a trading volume of 2,130,956 shares, compared to its average volume of 2,879,224. The firm has a market cap of $15.59 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 28.28 and a beta of 1.08. Docusign Inc. has a 12 month low of $48.80 and a 12 month high of $107.86. The business has a fifty day moving average of $81.37 and a 200 day moving average of $83.58.

Docusign (NASDAQ:DOCU - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported $0.90 EPS 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 firm had revenue of $763.65 million for the quarter, compared to the consensus estimate of $748.79 million. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The company's quarterly revenue was up 7.6% compared to the same quarter last year. On average, research analysts forecast that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign announced that its Board of Directors has authorized a stock buyback plan on Thursday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is 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.