Greenwood Capital Associates LLC Buys New Stake in DocuSign, Inc. (NASDAQ:DOCU)

Greenwood Capital Associates LLC bought a new position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,635 shares of the company's stock, valued at approximately $784,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gilman Hill Asset Management LLC lifted its stake in shares of DocuSign by 4.9% in the first quarter. Gilman Hill Asset Management LLC now owns 84,326 shares of the company's stock worth $6,864,000 after buying an additional 3,904 shares in the last quarter. Rhumbline Advisers lifted its position in DocuSign by 118.8% during the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company's stock valued at $54,695,000 after purchasing an additional 330,136 shares during the period. Principal Financial Group Inc. lifted its position in DocuSign by 3,026.7% during the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company's stock valued at $49,179,000 after purchasing an additional 529,308 shares during the period. Amundi lifted its position in DocuSign by 565.8% during the fourth quarter. Amundi now owns 1,379,575 shares of the company's stock valued at $123,486,000 after purchasing an additional 1,172,368 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in DocuSign during the fourth quarter valued at approximately $882,000. Institutional investors own 77.64% of the company's stock.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of research analyst reports. JMP Securities restated a "market outperform" rating and set a $124.00 price objective on shares of DocuSign in a research report on Tuesday, June 3rd. Citigroup lowered their price objective on shares of DocuSign from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, June 9th. Jefferies Financial Group lowered their price objective on shares of DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Morgan Stanley lowered their price objective 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, Robert W. Baird lowered their price objective 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. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, DocuSign has a consensus rating of "Hold" and a consensus price target of $89.77.

Insider Transactions at DocuSign

In related news, insider Robert Chatwani sold 15,706 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the completion of the transaction, the insider now directly owns 76,842 shares of the company's stock, valued at approximately $6,392,485.98. This trade represents a 16.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the transaction, the director now directly owns 8,270 shares of the company's stock, valued at $722,880.70. The trade was a 6.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,851 shares of company stock valued at $3,912,239 over the last three months. Corporate insiders own 1.01% of the company's stock.

DocuSign Stock Performance

Shares of NASDAQ DOCU traded down $1.95 during midday trading on Friday, reaching $74.06. The stock had a trading volume of 3,322,576 shares, compared to its average volume of 2,849,306. The stock has a 50-day moving average of $82.21 and a 200-day moving average of $86.01. The company has a market capitalization of $14.96 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 6.94 and a beta of 1.14. DocuSign, Inc. has a 12-month low of $48.80 and a 12-month high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.09. The firm had revenue of $763.65 million during the quarter, compared to analysts' expectations of $748.79 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 earnings per share. As a group, analysts forecast that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

DocuSign declared that its board has authorized a stock buyback plan on Thursday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

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.