Docusign Inc. (NASDAQ:DOCU) Stake Boosted by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 113.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,179 shares of the company's stock after acquiring an additional 46,958 shares during the quarter. Los Angeles Capital Management LLC's holdings in Docusign were worth $7,178,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DOCU. Golden State Wealth Management LLC increased its position in Docusign by 519.4% during 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 Docusign during the 4th quarter worth approximately $37,000. MassMutual Private Wealth & Trust FSB increased its position in Docusign by 153.1% during 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 increased its position in 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 in the last quarter. Finally, Bessemer Group Inc. increased its position in Docusign by 490.0% during 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.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Bank of America lowered their price objective on shares of Docusign from $88.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. Morgan Stanley decreased their price target on shares of Docusign from $92.00 to $86.00 and set an "equal weight" rating for the company in a research report on Friday, June 6th. Needham & Company LLC reissued a "hold" rating on shares of Docusign in a research report on Friday, June 6th. Wells Fargo & Company raised shares of Docusign from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $67.00 to $80.00 in a research report on Friday, June 13th. Finally, Robert W. Baird decreased their price target on shares of Docusign from $93.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $89.77.

Insider Activity at Docusign

In related 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 directly owned 72,126 shares of the company's stock, valued at $5,394,303.54. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Allan C. Thygesen sold 40,000 shares of Docusign stock in a transaction dated 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 approximately $11,160,122.33. The trade was a 21.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,552 shares of company stock valued at $5,983,631 in the last ninety days. Company insiders own 1.01% of the company's stock.

Docusign Stock Up 0.2%

DOCU stock traded up $0.16 during mid-day trading on Friday, reaching $80.49. The company had a trading volume of 309,822 shares, compared to its average volume of 2,626,027. The stock has a market capitalization of $16.26 billion, a P/E ratio of 15.25, a P/E/G ratio of 30.38 and a beta of 1.08. Docusign Inc. has a one year low of $48.80 and a one year high of $107.86. The stock's 50-day simple moving average is $80.43 and its two-hundred day simple moving average is $83.14.

Docusign (NASDAQ:DOCU - Get Free Report) last posted 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. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The company had revenue of $763.65 million for the quarter, compared to analysts' expectations of $748.79 million. During the same period last year, the business posted $0.82 earnings per share. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. On average, research analysts forecast that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign declared that its board has initiated a share repurchase program on Thursday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are 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.