Mn Services Vermogensbeheer B.V. Sells 8,000 Shares of Docusign Inc. (NASDAQ:DOCU)

Mn Services Vermogensbeheer B.V. cut its stake in Docusign Inc. (NASDAQ:DOCU - Free Report) by 9.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,100 shares of the company's stock after selling 8,000 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Docusign were worth $6,032,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Optas LLC increased its holdings in shares of Docusign by 7.6% during the 1st quarter. Optas LLC now owns 3,088 shares of the company's stock valued at $251,000 after purchasing an additional 219 shares in the last quarter. Ritholtz Wealth Management increased its holdings in Docusign by 58.5% during the 1st quarter. Ritholtz Wealth Management now owns 3,926 shares of the company's stock worth $320,000 after purchasing an additional 1,449 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Docusign by 528.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 108,232 shares of the company's stock worth $8,810,000 after acquiring an additional 91,017 shares in the last quarter. Greenwood Capital Associates LLC acquired a new position in shares of Docusign during the 1st quarter worth about $784,000. Finally, Fifth Third Bancorp grew its stake in Docusign by 26.2% during the 1st quarter. Fifth Third Bancorp now owns 1,391 shares of the company's stock worth $113,000 after buying an additional 289 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of Docusign stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $74.37, for a total value of $39,713.58. Following the completion of the sale, the director now directly owns 8,805 shares in the company, valued at $654,827.85. The trade was a 5.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Chatwani sold 22,875 shares of the firm'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 transaction, the insider now directly owns 72,126 shares in the company, valued at approximately $5,394,303.54. The trade was a 24.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,052 shares of company stock valued at $4,101,776. Corporate insiders own 1.01% of the company's stock.

Analyst Upgrades and Downgrades

DOCU has been the subject of several research analyst reports. Morgan Stanley dropped their price objective 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. Bank of America lowered 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. Robert W. Baird reduced their price objective on Docusign from $93.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $90.00 price target on shares of Docusign in a report on Friday, March 14th. Finally, Wedbush cut their target price on shares of Docusign from $100.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday, June 12th. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Docusign has an average rating of "Hold" and a consensus target price of $89.77.

Docusign Price Performance

NASDAQ DOCU traded up $0.44 during mid-day trading on Thursday, reaching $75.25. 3,736,684 shares of the stock were exchanged, compared to its average volume of 2,866,307. Docusign Inc. has a one year low of $48.80 and a one year high of $107.86. The stock has a 50 day simple moving average of $82.18 and a 200-day simple moving average of $85.91. The stock has a market cap of $15.21 billion, a P/E ratio of 14.22, a P/E/G ratio of 28.54 and a beta of 1.14.

Docusign (NASDAQ:DOCU - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported $0.90 earnings per share 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 analysts' expectations of $748.79 million. Docusign had a net margin of 36.50% and a return on equity of 14.27%. The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 earnings per share. Sell-side analysts anticipate that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign announced that its Board of Directors has authorized a stock repurchase program on Thursday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board 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.