Docusign Inc. (NASDAQ:DOCU) Shares Sold by Jackson Creek Investment Advisors LLC

Jackson Creek Investment Advisors LLC cut its holdings in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 41.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,971 shares of the company's stock after selling 3,549 shares during the period. Jackson Creek Investment Advisors LLC's holdings in Docusign were worth $405,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Jennison Associates LLC grew its holdings in shares of Docusign by 362.2% during the first quarter. Jennison Associates LLC now owns 662,817 shares of the company's stock valued at $53,953,000 after buying an additional 519,423 shares during the last quarter. Kingsview Wealth Management LLC boosted its holdings in Docusign by 5.6% in the first quarter. Kingsview Wealth Management LLC now owns 2,655 shares of the company's stock valued at $216,000 after purchasing an additional 141 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in Docusign by 485.6% in the first quarter. Cullen Frost Bankers Inc. now owns 978 shares of the company's stock valued at $80,000 after purchasing an additional 811 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Docusign by 251.0% in the first quarter. Victory Capital Management Inc. now owns 734,588 shares of the company's stock valued at $59,795,000 after purchasing an additional 525,294 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Docusign by 16,459.2% in the first quarter. Larson Financial Group LLC now owns 25,170 shares of the company's stock valued at $2,049,000 after purchasing an additional 25,018 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Docusign Stock Up 2.3%

Docusign stock traded up $1.75 during midday trading on Friday, reaching $79.37. The company's stock had a trading volume of 1,956,220 shares, compared to its average volume of 2,889,264. Docusign Inc. has a fifty-two week low of $48.80 and a fifty-two week high of $107.86. The company has a market cap of $16.04 billion, a P/E ratio of 15.00, a P/E/G ratio of 29.62 and a beta of 1.08. The business has a 50-day simple moving average of $81.16 and a 200-day simple moving average of $83.37.

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 company had revenue of $763.65 million for the quarter, compared to analyst estimates of $748.79 million. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 earnings per share. As a group, equities analysts forecast that Docusign Inc. will post 1.17 earnings per share for the current year.

Docusign declared that its Board of Directors has initiated a stock buyback program 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 stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related 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 value of $39,713.58. Following the completion of the sale, the director owned 8,805 shares in the company, valued at $654,827.85. This trade represents a 5.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Chatwani sold 22,875 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $74.79, for a total transaction of $1,710,821.25. Following the completion of the sale, the insider owned 72,126 shares of the company's stock, valued at approximately $5,394,303.54. The trade was a 24.08% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,552 shares of company stock worth $5,983,631. Corporate insiders own 1.01% of the company's stock.

Wall Street Analysts Forecast Growth

DOCU has been the topic of several recent analyst reports. Bank of America lowered their target price on shares of Docusign from $88.00 to $85.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. UBS Group lowered their target price on shares of Docusign from $85.00 to $80.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. Wells Fargo & Company raised shares of Docusign from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $67.00 to $80.00 in a research note on Friday, June 13th. Jefferies Financial Group lowered their target price on shares of Docusign from $115.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, Citigroup lowered their target price on shares of Docusign from $115.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, June 9th. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average 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.