Gallacher Capital Management LLC Invests $434,000 in Docusign Inc. (NASDAQ:DOCU)

Gallacher Capital Management LLC acquired a new position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,337 shares of the company's stock, valued at approximately $434,000.

A number of other large investors have also bought and sold shares of the stock. Golden State Wealth Management LLC lifted its stake in shares of Docusign by 519.4% in the first quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock valued at $31,000 after buying an additional 322 shares in the last quarter. Wood Tarver Financial Group LLC bought a new position in shares of Docusign during the fourth quarter valued at about $37,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Docusign by 153.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock valued at $37,000 after purchasing an additional 274 shares in the last quarter. McIlrath & Eck LLC lifted its position in shares of Docusign by 476.0% during the fourth quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock valued at $39,000 after purchasing an additional 357 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Docusign by 490.0% during the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company's stock valued at $42,000 after purchasing an additional 392 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Docusign 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 transaction of $39,713.58. Following the completion of the sale, the director directly owned 8,805 shares in the company, valued at approximately $654,827.85. This trade represents a 5.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $1,132,696.40. Following the sale, the chief financial officer owned 110,723 shares of the company's stock, valued at approximately $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. Insiders have sold a total of 78,552 shares of company stock valued at $5,983,631 in the last quarter. 1.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DOCU. Needham & Company LLC reissued a "hold" rating on shares of Docusign in a research report on Friday, June 6th. HSBC raised shares of Docusign from a "reduce" rating to a "hold" rating and set a $70.00 price target on the stock in a research report on Friday, April 11th. Wedbush lowered their price target on shares of Docusign from $100.00 to $85.00 and set a "neutral" rating on the stock in a research report on Thursday, June 12th. Morgan Stanley lowered 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 report on Friday, June 6th. Finally, UBS Group lowered their price target on shares of Docusign from $85.00 to $80.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $89.77.

Docusign Stock Down 0.9%

Shares of NASDAQ:DOCU traded down $0.76 on Thursday, hitting $80.65. The company had a trading volume of 1,092,460 shares, compared to its average volume of 2,636,534. The firm's 50-day simple moving average is $80.64 and its two-hundred day simple moving average is $83.22. Docusign Inc. has a 1 year low of $48.80 and a 1 year high of $107.86. The firm has a market capitalization of $16.30 billion, a price-to-earnings ratio of 15.24, a P/E/G ratio of 30.37 and a beta of 1.08.

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

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