Hohimer Wealth Management LLC cut its holdings in Docusign Inc. (NASDAQ:DOCU - Free Report) by 24.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,052 shares of the company's stock after selling 5,231 shares during the period. Hohimer Wealth Management LLC's holdings in Docusign were worth $1,307,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in DOCU. FMR LLC increased its stake in shares of Docusign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company's stock valued at $548,726,000 after acquiring an additional 3,908,139 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Docusign by 18.5% during the 4th quarter. American Century Companies Inc. now owns 5,315,459 shares of the company's stock valued at $478,072,000 after acquiring an additional 831,611 shares during the last quarter. Jericho Capital Asset Management L.P. increased its stake in shares of Docusign by 34.0% during the 4th 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. Renaissance Technologies LLC increased its stake in shares of Docusign by 4.9% during the 4th quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company's stock valued at $392,434,000 after acquiring an additional 205,304 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Docusign by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company's stock valued at $335,147,000 after acquiring an additional 249,179 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.
Docusign Trading Up 0.6%
Shares of NASDAQ DOCU traded up $0.48 during midday trading on Thursday, reaching $77.62. The company's stock had a trading volume of 2,304,211 shares, compared to its average volume of 2,882,282. The company has a 50 day moving average price of $81.24 and a 200 day moving average price of $83.48. Docusign Inc. has a one year low of $48.80 and a one year high of $107.86. The company has a market cap of $15.68 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 28.79 and a beta of 1.08.
Docusign (NASDAQ:DOCU - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $748.79 million. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 EPS. Research analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.
Docusign declared that its board has authorized a stock buyback plan on Thursday, June 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.
Insider Buying and Selling
In other Docusign news, insider Robert Chatwani sold 22,875 shares of Docusign stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $74.79, for a total transaction of $1,710,821.25. Following the transaction, the insider owned 72,126 shares of the company's stock, valued at $5,394,303.54. The trade was a 24.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of Docusign 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 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 disclosure for this sale can be found here. Insiders have sold a total of 78,552 shares of company stock worth $5,983,631 in the last quarter. 1.01% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms recently issued reports on DOCU. William Blair reissued an "outperform" rating on shares of Docusign in a research report on Monday, April 21st. Wells Fargo & Company raised shares of Docusign from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $67.00 to $80.00 in a research report on Friday, June 13th. HSBC upgraded shares of Docusign from a "reduce" rating to a "hold" rating and set a $70.00 price objective on the stock in a research note on Friday, April 11th. Wedbush dropped their price objective on shares of Docusign from $100.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday, June 12th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Docusign from $81.00 to $77.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $89.77.
Read Our Latest Research Report on DOCU
Docusign Company Profile
(
Free Report)
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.
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