Docusign Inc. (NASDAQ:DOCU) Shares Bought by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC boosted its position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 242.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,502 shares of the company's stock after acquiring an additional 8,847 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Docusign were worth $1,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its holdings in Docusign by 519.4% during the 1st quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock valued at $31,000 after acquiring an additional 322 shares during the period. Wood Tarver Financial Group LLC purchased a new position in shares of Docusign in the 4th quarter valued at about $37,000. MassMutual Private Wealth & Trust FSB boosted its stake 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 valued at $37,000 after buying an additional 274 shares during the period. McIlrath & Eck LLC boosted its stake in shares of Docusign by 476.0% in the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock valued at $39,000 after buying an additional 357 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of Docusign by 490.0% in the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company's stock valued at $42,000 after buying an additional 392 shares during the period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 15,143 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $74.80, for a total transaction of $1,132,696.40. Following the transaction, the chief financial officer owned 110,723 shares of the company's stock, valued at $8,282,080.40. This represents a 12.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Allan C. Thygesen sold 40,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer directly owned 143,983 shares in the company, valued at $11,160,122.33. This represents a 21.74% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,552 shares of company stock worth $5,983,631. Insiders own 1.01% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DOCU. Wells Fargo & Company upgraded Docusign from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $67.00 to $80.00 in a research note on Friday, June 13th. Wedbush decreased 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. William Blair restated an "outperform" rating on shares of Docusign in a research note on Monday, April 21st. JMP Securities restated a "market outperform" rating and set a $124.00 target price on shares of Docusign in a research note on Tuesday, June 3rd. Finally, Bank of America decreased their target price on Docusign from $88.00 to $85.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Twelve equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $89.77.

Docusign Stock Performance

NASDAQ DOCU traded down $0.46 on Friday, reaching $79.87. The stock had a trading volume of 1,711,166 shares, compared to its average volume of 2,305,799. The stock has a market cap of $16.14 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 29.81 and a beta of 1.08. The business's 50-day moving average price is $80.18 and its 200 day moving average price is $83.04. 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 released its earnings results on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.09. The business 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 company'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 posted $0.82 earnings per share. On average, sell-side analysts predict that Docusign Inc. will post 1.17 earnings per share for the current year.

Docusign declared that its Board of Directors has authorized a share buyback program on Thursday, June 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

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.