Docusign Inc. (NASDAQ:DOCU) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 92.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 6,451 shares of the company's stock after selling 81,099 shares during the period. SG Americas Securities LLC's holdings in Docusign were worth $525,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DOCU. Kestra Investment Management LLC acquired a new stake in shares of Docusign during the 4th quarter valued at about $30,000. First Horizon Advisors Inc. grew its position in shares of Docusign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after acquiring an additional 201 shares during the period. Wood Tarver Financial Group LLC acquired a new stake in shares of Docusign during the 4th quarter valued at about $37,000. MassMutual Private Wealth & Trust FSB grew its position 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 acquiring an additional 274 shares during the period. Finally, McIlrath & Eck LLC grew 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 acquiring an additional 357 shares during the period. Hedge funds and other institutional investors own 77.64% of the company's stock.

Insider Activity at Docusign

In other Docusign news, Director Teresa Briggs sold 534 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $74.37, for a total value of $39,713.58. Following the transaction, the director now owns 8,805 shares in the company, valued at approximately $654,827.85. This represents a 5.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 15,143 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $74.80, for a total transaction of $1,132,696.40. Following the completion of the transaction, the chief financial officer now owns 110,723 shares in the company, valued at approximately $8,282,080.40. This represents a 12.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,052 shares of company stock valued at $4,101,776 over the last ninety days. Insiders own 1.66% of the company's stock.

Analysts Set New Price Targets

DOCU has been the topic of several research analyst reports. Wells Fargo & Company upgraded Docusign from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $67.00 to $80.00 in a report on Friday, June 13th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $90.00 price objective on shares of Docusign in a report on Friday, March 14th. JPMorgan Chase & Co. lowered their price objective on Docusign from $81.00 to $77.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. Robert W. Baird lowered their price objective on Docusign from $93.00 to $85.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. Finally, Wedbush lowered their price objective on Docusign from $100.00 to $85.00 and set a "neutral" rating on the stock in a report on Thursday, June 12th. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Docusign has an average rating of "Hold" and a consensus target price of $89.77.

Docusign Stock Down 0.2%

Shares of NASDAQ:DOCU opened at $75.13 on Monday. Docusign Inc. has a fifty-two week low of $48.80 and a fifty-two week high of $107.86. The firm has a 50-day simple moving average of $82.23 and a 200 day simple moving average of $85.86. The company has a market cap of $15.18 billion, a PE ratio of 14.20, a P/E/G ratio of 28.49 and a beta of 1.14.

Docusign (NASDAQ:DOCU - Get Free Report) last posted 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. The firm had revenue of $763.65 million during the quarter, compared to analysts' expectations of $748.79 million. Docusign had a net margin of 36.50% and a return on equity of 14.27%. Docusign's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 EPS. As a group, research analysts forecast that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign declared that its Board of Directors has approved a stock buyback program on Thursday, June 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership 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.

Want to see what other hedge funds are holding DOCU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Docusign Inc. (NASDAQ:DOCU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.