MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 29,527 Shares of DocuSign, Inc. (NASDAQ:DOCU)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its stake in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 52.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 26,953 shares of the company's stock after selling 29,527 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in DocuSign were worth $2,194,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new position in shares of DocuSign during the 4th quarter worth about $30,000. First Horizon Advisors Inc. increased its holdings in shares of 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 purchasing an additional 201 shares during the period. Wood Tarver Financial Group LLC bought a new position in shares of DocuSign during the 4th quarter worth about $37,000. McIlrath & Eck LLC increased its holdings 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 period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of 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 during the period. Institutional investors own 77.64% of the company's stock.

DocuSign Stock Down 2.6%

NASDAQ:DOCU opened at $74.06 on Monday. The firm has a market cap of $14.96 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 6.94 and a beta of 1.14. DocuSign, Inc. has a 12 month low of $48.80 and a 12 month high of $107.86. The company's 50-day moving average price is $82.21 and its two-hundred day moving average price is $86.09.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.09. The firm had revenue of $763.65 million for the quarter, compared to analyst estimates of $748.79 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. On average, research analysts expect that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

DocuSign declared that its Board of Directors has authorized a share buyback program on Thursday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of DocuSign from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $67.00 to $80.00 in a report on Friday. Royal Bank of Canada reiterated a "sector perform" rating and set a $90.00 target price on shares of DocuSign in a research report on Friday, March 14th. Bank of America decreased their target price on shares of DocuSign from $88.00 to $85.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. Citigroup decreased their target price on shares of DocuSign from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, June 9th. Finally, Hsbc Global Res upgraded shares of DocuSign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, DocuSign presently has a consensus rating of "Hold" and an average target price of $89.77.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total value of $608,720.00. Following the completion of the transaction, the chief financial officer now directly owns 86,156 shares of the company's stock, valued at approximately $6,555,610.04. The trade was a 8.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the completion of the transaction, the insider now directly owns 76,842 shares of the company's stock, valued at approximately $6,392,485.98. This represents a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,317 shares of company stock valued at $3,865,562. Insiders own 1.01% of the company's stock.

DocuSign 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.

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