Kentucky Retirement Systems Insurance Trust Fund Purchases New Stake in Docusign Inc. (NASDAQ:DOCU)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of 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 firm purchased 5,828 shares of the company's stock, valued at approximately $474,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. lifted its position in Docusign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after acquiring an additional 201 shares during the last quarter. Wood Tarver Financial Group LLC bought a new position in shares of Docusign in the fourth quarter worth about $37,000. McIlrath & Eck LLC lifted its position in shares of Docusign by 476.0% during 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 last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Docusign by 153.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock valued at $37,000 after purchasing an additional 274 shares during the period. Finally, Bessemer Group Inc. boosted its stake in Docusign by 490.0% during the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company's stock valued at $42,000 after purchasing an additional 392 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Docusign

In other news, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total transaction of $609,825.00. Following the sale, the insider now owns 45,875 shares in the company, valued at approximately $3,730,096.25. This represents a 14.05% 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 link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total transaction of $608,720.00. Following the completion of the sale, the chief financial officer now owns 86,156 shares of the company's stock, valued at $6,555,610.04. The trade was a 8.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,052 shares of company stock valued at $4,101,776 in the last ninety days. Insiders own 1.01% of the company's stock.

Docusign Price Performance

Shares of DOCU traded up $0.82 during mid-day trading on Friday, reaching $76.37. The company had a trading volume of 421,279 shares, compared to its average volume of 2,851,704. The company has a market capitalization of $15.43 billion, a P/E ratio of 14.44, a P/E/G ratio of 28.45 and a beta of 1.14. Docusign Inc. has a twelve month low of $48.80 and a twelve month high of $107.86. The company's 50-day moving average is $82.15 and its 200-day moving average is $85.31.

Docusign (NASDAQ:DOCU - Get Free Report) last released 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. 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 period in the prior year, the company posted $0.82 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts expect that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign declared that its board has authorized a stock repurchase 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

DOCU has been the subject of a number of research analyst reports. Royal Bank Of Canada reiterated a "sector perform" rating and set a $90.00 price target on shares of Docusign in a report on Friday, March 14th. Robert W. Baird decreased their price target 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. William Blair restated an "outperform" rating on shares of Docusign in a report on Monday, April 21st. Needham & Company LLC reiterated a "hold" rating on shares of Docusign in a research note on Friday, June 6th. Finally, JMP Securities reissued a "market outperform" rating and set a $124.00 target price on shares of Docusign in a research report on Tuesday, June 3rd. Twelve research 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 stock currently has a consensus rating of "Hold" and an average 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.