Edgestream Partners L.P. Sells 22,276 Shares of Docusign Inc. (NASDAQ:DOCU)

Edgestream Partners L.P. lessened its position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 67.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,703 shares of the company's stock after selling 22,276 shares during the period. Edgestream Partners L.P.'s holdings in Docusign were worth $871,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Reyes Financial Architecture Inc. increased its position in Docusign by 30.2% in the 1st quarter. Reyes Financial Architecture Inc. now owns 2,149 shares of the company's stock valued at $175,000 after acquiring an additional 498 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Docusign by 0.5% during the first quarter. Louisiana State Employees Retirement System now owns 56,600 shares of the company's stock valued at $4,607,000 after purchasing an additional 300 shares in the last quarter. Q3 Asset Management acquired a new stake in Docusign in the first quarter worth about $232,000. Ballentine Partners LLC grew its position in Docusign by 5.6% in the 1st quarter. Ballentine Partners LLC now owns 3,262 shares of the company's stock valued at $266,000 after buying an additional 174 shares in the last quarter. Finally, Xponance Inc. increased its stake in Docusign by 1.0% during the 1st quarter. Xponance Inc. now owns 52,247 shares of the company's stock valued at $4,253,000 after buying an additional 538 shares during the period. Institutional investors and hedge funds own 77.64% of the company's stock.

Insiders Place Their Bets

In related news, insider Robert Chatwani sold 22,875 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $74.79, for a total value of $1,710,821.25. Following the completion of the transaction, the insider owned 72,126 shares of the company's stock, valued at approximately $5,394,303.54. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were 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 directly owned 143,983 shares of the company's stock, valued at $11,160,122.33. This represents a 21.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,552 shares of company stock worth $5,983,631. Company insiders own 1.66% of the company's stock.

Docusign Price Performance

Shares of DOCU traded up $1.76 during mid-day trading on Tuesday, reaching $81.10. The company had a trading volume of 951,708 shares, compared to its average volume of 2,880,791. The company has a market capitalization of $16.39 billion, a P/E ratio of 15.34, a P/E/G ratio of 29.62 and a beta of 1.08. Docusign Inc. has a twelve month low of $48.80 and a twelve month high of $107.86. The company's 50-day moving average is $81.16 and its 200-day moving average is $83.32.

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

Docusign declared that its Board of Directors has initiated a share repurchase plan on Thursday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

DOCU has been the topic of a number of research analyst reports. Wells Fargo & Company raised Docusign from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $67.00 to $80.00 in a report on Friday, June 13th. Wedbush lowered their price objective on shares of Docusign from $100.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday, June 12th. JMP Securities restated a "market outperform" rating and issued a $124.00 price target on shares of Docusign in a research report on Tuesday, June 3rd. Hsbc Global Res raised Docusign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. Finally, HSBC raised Docusign from a "reduce" rating to a "hold" rating and set a $70.00 price objective for the company in a research note on Friday, April 11th. Twelve equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $89.77.

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.