Fairvoy Private Wealth LLC Cuts Position in DocuSign, Inc. (NASDAQ:DOCU)

Fairvoy Private Wealth LLC lessened its position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 80.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,322 shares of the company's stock after selling 29,875 shares during the period. Fairvoy Private Wealth LLC's holdings in DocuSign were worth $596,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new position in DocuSign during the 4th quarter worth approximately $30,000. First Horizon Advisors Inc. grew its holdings in DocuSign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after acquiring an additional 201 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new position in DocuSign during the 4th quarter worth approximately $37,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of DocuSign by 153.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock valued at $37,000 after buying an additional 274 shares in the last quarter. Finally, McIlrath & Eck LLC boosted its holdings in shares of DocuSign by 476.0% in 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. Institutional investors and hedge funds own 77.64% of the company's stock.

DocuSign Stock Performance

DocuSign stock traded down $1.95 during trading hours on Friday, reaching $74.06. 3,322,576 shares of the stock were exchanged, compared to its average volume of 2,853,224. The stock has a market cap of $14.96 billion, a P/E ratio of 15.27, a P/E/G ratio of 6.94 and a beta of 1.14. DocuSign, Inc. has a 52-week low of $48.80 and a 52-week high of $107.86. The firm's 50 day moving average is $82.21 and its 200 day moving average is $86.05.

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, topping analysts' consensus estimates of $0.81 by $0.09. The company had revenue of $763.65 million during the quarter, compared to the consensus estimate of $748.79 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. 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. Equities research 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 buyback plan on Thursday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 6.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

DOCU has been the subject of several research analyst reports. JMP Securities restated a "market outperform" rating and issued a $124.00 target price on shares of DocuSign in a report on Tuesday, June 3rd. Hsbc Global Res upgraded shares of DocuSign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. UBS Group lowered their target price on shares of DocuSign from $85.00 to $80.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Morgan Stanley lowered their target price 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. Finally, Bank of America lowered their target price on shares of DocuSign from $88.00 to $85.00 and set a "neutral" 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 issued a buy rating to the company. Based on data from MarketBeat.com, DocuSign presently has an average rating of "Hold" and an average price target of $89.77.

Insiders Place Their Bets

In other news, Director Teresa Briggs sold 534 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the transaction, the director now owns 8,270 shares in the company, valued at $722,880.70. This trade represents a 6.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the completion of the transaction, the chief financial officer now owns 93,960 shares of the company's stock, valued at $7,817,472. This represents a 14.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,851 shares of company stock worth $3,912,239. 1.01% of the stock is owned by insiders.

DocuSign 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.