9,635 Shares in DocuSign, Inc. (NASDAQ:DOCU) Acquired by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC acquired a new stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,635 shares of the company's stock, valued at approximately $784,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Kestra Investment Management LLC acquired a new position in shares of DocuSign in the 4th quarter valued at about $30,000. First Horizon Advisors Inc. raised its holdings in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after purchasing an additional 201 shares during the period. Wood Tarver Financial Group LLC acquired a new position in DocuSign in the 4th quarter worth about $37,000. MassMutual Private Wealth & Trust FSB raised its holdings in DocuSign by 153.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock worth $37,000 after purchasing an additional 274 shares during the period. Finally, McIlrath & Eck LLC raised its holdings in DocuSign by 476.0% in the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock worth $39,000 after purchasing an additional 357 shares during the period. Institutional investors and hedge funds own 77.64% of the company's stock.

DocuSign Trading Up 2.2%

Shares of DOCU traded up $1.62 during mid-day trading on Monday, hitting $75.68. The company's stock had a trading volume of 3,787,750 shares, compared to its average volume of 2,856,972. The firm has a 50-day simple moving average of $82.32 and a 200 day simple moving average of $86.06. The firm has a market capitalization of $15.29 billion, a P/E ratio of 15.60, a P/E/G ratio of 6.94 and a beta of 1.14. DocuSign, Inc. has a 1-year low of $48.80 and a 1-year high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $763.65 million during the quarter, compared to analysts' expectations of $748.79 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign's revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. As a group, sell-side analysts predict that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

DocuSign announced that its Board of Directors has authorized a stock buyback program on Thursday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, CFO Blake Jeffrey Grayson sold 16,111 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total value of $1,340,435.20. Following the completion of the transaction, the chief financial officer now directly owns 93,960 shares of the company's stock, valued at $7,817,472. The trade was a 14.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert Chatwani sold 15,706 shares of DocuSign stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the sale, the insider now directly owns 76,842 shares of the company's stock, valued at approximately $6,392,485.98. This represents a 16.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,851 shares of company stock valued at $3,905,276. 1.01% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on DOCU shares. Hsbc Global Res raised DocuSign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. Jefferies Financial Group reduced their target price on DocuSign from $115.00 to $105.00 and set a "buy" rating for the company in a report on Monday, March 31st. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a report on Friday, June 6th. HSBC raised DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 target price for the company in a report on Friday, April 11th. Finally, Robert W. Baird reduced their target price on DocuSign from $93.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Twelve 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, the stock has a consensus rating of "Hold" and a consensus target price of $89.77.

About DocuSign

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.