Harel Insurance Investments & Financial Services Ltd. Boosts Stock Holdings in Docusign Inc. (NASDAQ:DOCU)

Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Docusign Inc. (NASDAQ:DOCU - Free Report) by 66,884.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,429 shares of the company's stock after purchasing an additional 90,294 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in Docusign were worth $7,361,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DOCU. Golden State Wealth Management LLC boosted its position in shares of Docusign by 519.4% in the 1st quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock worth $31,000 after purchasing an additional 322 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new stake in shares of Docusign in the 4th quarter worth $37,000. MassMutual Private Wealth & Trust FSB boosted its position 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 worth $37,000 after purchasing an additional 274 shares in the last quarter. McIlrath & Eck LLC boosted its position in shares of 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 in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Docusign by 490.0% in the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company's stock worth $42,000 after purchasing an additional 392 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Insiders Place Their Bets

In other Docusign news, CEO Allan C. Thygesen sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $77.51, for a total value of $3,100,400.00. Following the sale, the chief executive officer directly owned 143,983 shares of the company's stock, valued at approximately $11,160,122.33. This trade represents a 21.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 15,143 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $74.80, for a total value 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 trade represents a 12.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,552 shares of company stock valued at $6,592,351 in the last three months. 1.01% of the stock is currently owned by company insiders.

Docusign Trading Up 2.4%

Shares of NASDAQ DOCU traded up $1.82 during trading on Friday, reaching $78.97. 1,921,166 shares of the company traded hands, compared to its average volume of 2,867,831. The firm's fifty day simple moving average is $82.20 and its 200 day simple moving average is $84.50. The stock has a market cap of $15.96 billion, a P/E ratio of 14.93, a PEG ratio of 29.49 and a beta of 1.08. 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 results on Thursday, June 5th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.09. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The firm had revenue of $763.65 million during the quarter, compared to analyst estimates of $748.79 million. During the same quarter in the previous year, the business earned $0.82 EPS. Docusign's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts expect that Docusign Inc. will post 1.17 EPS for the current year.

Docusign announced that its board has approved a stock buyback program on Thursday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DOCU shares. JPMorgan Chase & Co. lowered their price objective on Docusign from $81.00 to $77.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. JMP Securities restated a "market outperform" rating and issued a $124.00 target price on shares of Docusign in a research note on Tuesday, June 3rd. Wells Fargo & Company upgraded Docusign from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $67.00 to $80.00 in a research note on Friday, June 13th. Wedbush reduced their target price on Docusign from $100.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday, June 12th. 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 research note on Friday, June 6th. Twelve investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $89.77.

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.