Fiera Capital Corp Sells 4,598 Shares of Docusign Inc. (NASDAQ:DOCU)

Key Points

• Fiera Capital Corp reduced its holdings in Docusign by 0.9%, selling 4,598 shares and now owns approximately 0.26% of the company valued at $42.99 million.
• Docusign's recent quarterly earnings showed an EPS of $0.90, surpassing estimates, and a revenue increase of 7.6% year-over-year to $763.65 million.
• The company has authorized a new share repurchase plan of $1.00 billion, allowing for the repurchase of up to 6.6% of its shares, indicating confidence in its valuation.

Fiera Capital Corp trimmed its holdings in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 0.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 528,204 shares of the company's stock after selling 4,598 shares during the quarter. Fiera Capital Corp owned about 0.26% of Docusign worth $42,996,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DOCU. FMR LLC lifted its stake in Docusign by 178.2% during the fourth quarter. FMR LLC now owns 6,101,024 shares of the company's stock worth $548,726,000 after purchasing an additional 3,908,139 shares during the period. Invesco Ltd. lifted its stake in Docusign by 283.9% during the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock worth $310,048,000 after purchasing an additional 2,549,310 shares during the period. Norges Bank acquired a new stake in shares of Docusign during the fourth quarter worth approximately $223,196,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Docusign by 201.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company's stock valued at $194,118,000 after acquiring an additional 1,442,639 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. raised its stake in shares of Docusign by 34.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company's stock valued at $427,642,000 after acquiring an additional 1,205,500 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on DOCU. JMP Securities reissued a "market outperform" rating and issued a $124.00 price target on shares of Docusign in a report on Tuesday, June 3rd. Robert W. Baird decreased their target price on shares of Docusign from $93.00 to $85.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. Bank of America dropped their price target on shares of Docusign from $88.00 to $85.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. JPMorgan Chase & Co. reduced their price target on shares of Docusign from $81.00 to $77.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Finally, Morgan Stanley dropped their price target on shares of Docusign from $92.00 to $86.00 and set an "equal weight" rating on the stock in a research note 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's stock. According to data from MarketBeat, Docusign presently has an average rating of "Hold" and a consensus price target of $89.77.

Docusign Stock Down 0.6%

NASDAQ DOCU traded down $0.51 during trading on Tuesday, hitting $79.88. The stock had a trading volume of 1,151,434 shares, compared to its average volume of 2,185,767. The company has a market capitalization of $16.14 billion, a PE ratio of 15.10, a PEG ratio of 30.00 and a beta of 1.08. The firm has a 50 day moving average price of $79.77 and a 200 day moving average price of $82.90. Docusign Inc. has a twelve month low of $48.80 and a twelve month high of $107.86.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $748.79 million. During the same quarter last year, the company earned $0.82 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current year.

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

Insiders Place Their Bets

In related news, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction dated 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 owned 8,805 shares of the company's stock, valued at approximately $654,827.85. This trade represents a 5.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Blake Jeffrey Grayson sold 15,143 shares of Docusign 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 owned 110,723 shares of the company's stock, valued at $8,282,080.40. This represents a 12.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,552 shares of company stock valued at $5,983,631. Insiders own 1.66% of the company's stock.

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.