Docusign Inc. (NASDAQ:DOCU) Shares Sold by LPL Financial LLC

LPL Financial LLC reduced its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 7.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 193,293 shares of the company's stock after selling 16,634 shares during the period. LPL Financial LLC owned about 0.10% of Docusign worth $15,734,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DOCU. Wells Fargo & Company MN increased its stake in Docusign by 15.9% during the fourth quarter. Wells Fargo & Company MN now owns 377,439 shares of the company's stock worth $33,947,000 after acquiring an additional 51,789 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in Docusign in the 4th quarter worth $5,412,000. Envestnet Asset Management Inc. boosted its holdings in Docusign by 42.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 180,054 shares of the company's stock valued at $16,194,000 after purchasing an additional 54,023 shares during the last quarter. Quadrant Capital Group LLC grew its stake in Docusign by 828.6% during the 4th quarter. Quadrant Capital Group LLC now owns 780 shares of the company's stock valued at $70,000 after purchasing an additional 696 shares in the last quarter. Finally, FMR LLC grew its stake in 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 purchasing an additional 3,908,139 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Docusign news, insider Robert Chatwani sold 22,875 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $74.79, for a total value of $1,710,821.25. Following the completion of the transaction, the insider owned 72,126 shares in the company, valued at approximately $5,394,303.54. This represents a 24.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Allan C. Thygesen sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $77.51, for a total transaction of $3,100,400.00. Following the completion of the sale, the chief executive officer owned 143,983 shares in the company, valued at $11,160,122.33. The trade was a 21.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,552 shares of company stock valued at $5,983,631. 1.01% of the stock is owned by company insiders.

Docusign Stock Down 6.2%

Shares of NASDAQ:DOCU traded down $4.66 during trading on Thursday, hitting $70.48. 4,137,230 shares of the company traded hands, compared to its average volume of 2,099,606. The business's fifty day moving average is $78.23 and its 200-day moving average is $82.20. The stock has a market capitalization of $14.24 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 28.04 and a beta of 1.01. Docusign Inc. has a one year low of $50.78 and a one year high of $107.86.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.09. The firm had revenue of $763.65 million during 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 firm's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. On average, analysts forecast that Docusign Inc. will post 1.17 EPS for the current year.

Docusign declared that its Board of Directors has approved a share repurchase plan on Thursday, June 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

DOCU has been the subject of several research analyst reports. Morgan Stanley reduced their target price on Docusign from $92.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, June 6th. Citigroup decreased their price objective on shares of Docusign from $115.00 to $110.00 and set a "buy" rating for the company in a report on Monday, June 9th. 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 increased their price target for the stock from $67.00 to $80.00 in a research report on Friday, June 13th. Finally, Hsbc Global Res upgraded Docusign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. Thirteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Docusign has a consensus rating of "Hold" and an average price target 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.