Mediolanum International Funds Ltd Sells 34,397 Shares of Docusign Inc. (NASDAQ:DOCU)

Key Points

• Mediolanum International Funds Ltd reduced its holdings in Docusign Inc. by 21.6%, owning 124,596 shares after selling 34,397 shares, which brings its total value to approximately $10,364,000.
• Insiders sold 78,552 shares of Docusign stock worth nearly $6 million in the past 90 days, indicating potential diminishing confidence among insiders.
• Analysts have mixed opinions on Docusign shares, with a consensus target price of $89.77 and ratings ranging from "hold" to "outperform" from various firms.

Mediolanum International Funds Ltd lowered its stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 21.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,596 shares of the company's stock after selling 34,397 shares during the quarter. Mediolanum International Funds Ltd owned about 0.06% of Docusign worth $10,364,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DOCU. Golden State Wealth Management LLC boosted its stake in shares of Docusign by 519.4% in the 1st quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock valued at $31,000 after purchasing an additional 322 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new stake in shares of Docusign in the 4th quarter valued at $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 purchasing an additional 274 shares in the last quarter. 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 purchasing an additional 357 shares in the last quarter. 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 purchasing an additional 392 shares in the last quarter. Institutional investors own 77.64% of the company's stock.

Analyst Ratings Changes

DOCU has been the topic of several recent analyst reports. HSBC upgraded shares of Docusign from a "reduce" rating to a "hold" rating and set a $70.00 target price on the stock in a research note on Friday, April 11th. JMP Securities reaffirmed a "market outperform" rating and issued a $124.00 price target on shares of Docusign in a report on Tuesday, June 3rd. JPMorgan Chase & Co. cut their price target on Docusign from $81.00 to $77.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Robert W. Baird cut their price target on Docusign from $93.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Finally, Bank of America dropped their price objective on Docusign from $88.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Twelve analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Docusign presently has a consensus rating of "Hold" and an average price target of $89.77.

Docusign Price Performance

Docusign stock traded down $0.49 during mid-day trading on Tuesday, hitting $79.90. 679,927 shares of the company's stock traded hands, compared to its average volume of 2,614,644. The firm has a 50 day simple moving average of $79.96 and a two-hundred day simple moving average of $82.92. Docusign Inc. has a fifty-two week low of $48.80 and a fifty-two week high of $107.86. The stock has a market cap of $16.15 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 29.81 and a beta of 1.08.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.09. The company had revenue of $763.65 million for the quarter, compared to analysts' expectations of $748.79 million. Docusign had a return on equity of 14.27% and a net margin of 36.50%. Docusign's revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business earned $0.82 earnings per share. On average, research analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

Docusign announced that its board has initiated a share repurchase plan on Thursday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Insider Transactions at Docusign

In other news, insider Robert Chatwani sold 22,875 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider owned 72,126 shares in the company, 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 SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $74.37, for a total value of $39,713.58. Following the sale, the director owned 8,805 shares of the company's stock, valued at $654,827.85. This trade represents a 5.72% 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 valued at $5,983,631. Company 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.