Docusign Inc. (NASDAQ:DOCU) Stock Holdings Lifted by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in Docusign Inc. by 2.3%, acquiring a total of 558,470 shares valued at approximately $45.46 million.
• The company reported $0.90 earnings per share (EPS) for the latest quarter, exceeding the consensus estimate of $0.81, alongside a revenue of $763.65 million.
• Docusign's Board of Directors approved a $1 billion share buyback plan, indicating confidence in the undervaluation of its shares.

Deutsche Bank AG lifted its position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 558,470 shares of the company's stock after acquiring an additional 12,392 shares during the period. Deutsche Bank AG owned about 0.28% of Docusign worth $45,459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in DOCU. Hemington Wealth Management grew its stake in Docusign by 318.1% during the 1st quarter. Hemington Wealth Management now owns 347 shares of the company's stock worth $28,000 after buying an additional 264 shares during the last quarter. Golden State Wealth Management LLC grew its stake in Docusign by 519.4% during 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 last quarter. Wood Tarver Financial Group LLC bought a new position in Docusign during the 4th quarter worth $37,000. McIlrath & Eck LLC grew its stake in Docusign by 476.0% during the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock worth $39,000 after buying an additional 357 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Docusign by 153.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock worth $37,000 after buying an additional 274 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Docusign

In related news, CEO Allan C. Thygesen sold 40,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $77.51, for a total transaction of $3,100,400.00. Following the completion of the transaction, the chief executive officer owned 143,983 shares of the company's stock, valued at $11,160,122.33. This trade represents a 21.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 15,143 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer directly owned 110,723 shares of the company's stock, valued at $8,282,080.40. This represents a 12.03% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,552 shares of company stock worth $5,983,631. Corporate insiders own 1.01% of the company's stock.

Analyst Ratings Changes

DOCU has been the subject of a number of recent research reports. Robert W. Baird lowered their price objective on Docusign from $93.00 to $85.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. JPMorgan Chase & Co. lowered their price objective on Docusign from $81.00 to $77.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Needham & Company LLC restated a "hold" rating on shares of Docusign in a research note on Friday, June 6th. William Blair restated an "outperform" rating on shares of Docusign in a research note on Monday, April 21st. Finally, Bank of America decreased their price target on Docusign from $88.00 to $85.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Thirteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Docusign presently has an average rating of "Hold" and a consensus price target of $89.77.

Docusign Stock Performance

Shares of NASDAQ:DOCU traded up $1.90 on Friday, hitting $70.90. The company's stock had a trading volume of 2,107,877 shares, compared to its average volume of 2,234,166. The stock's 50-day moving average is $75.92 and its two-hundred day moving average is $81.23. Docusign Inc. has a 12 month low of $54.31 and a 12 month high of $107.86. The company has a market capitalization of $14.33 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 25.75 and a beta of 1.01.

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

Docusign announced that its Board of Directors has approved a stock repurchase plan on Thursday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.6% of its shares through open market purchases. Shares buyback plans are usually 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.