5,897 Shares in Docusign Inc. (NASDAQ:DOCU) Bought by Navellier & Associates Inc.

Key Points

• Navellier & Associates Inc. has invested $486,000 in Docusign Inc. by acquiring 5,897 shares during the first quarter.
• Docusign reported Q1 earnings of $0.90 per share, exceeding analysts' estimates, with revenues of $763.65 million, reflecting a 7.6% year-over-year increase.
• The company has initiated a $1.00 billion share buyback program, indicating the board's belief that the stock is currently undervalued.

Navellier & Associates Inc. bought a new position in Docusign Inc. (NASDAQ:DOCU - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,897 shares of the company's stock, valued at approximately $486,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DOCU. Golden State Wealth Management LLC raised its position in shares of Docusign by 519.4% during 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 during the period. Wood Tarver Financial Group LLC bought a new stake in shares of Docusign during the 4th quarter valued at $37,000. MassMutual Private Wealth & Trust FSB raised its position 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 valued at $37,000 after purchasing an additional 274 shares during the period. McIlrath & Eck LLC increased its holdings in 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 acquiring an additional 357 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Docusign by 490.0% in the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company's stock worth $42,000 after buying an additional 392 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Robert W. Baird dropped their price target on shares of Docusign from $93.00 to $85.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Morgan Stanley dropped 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 note on Friday, June 6th. Citigroup dropped their price target on shares of Docusign from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Monday, June 9th. UBS Group dropped their price target on shares of Docusign from $85.00 to $80.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Finally, William Blair reaffirmed an "outperform" rating on shares of Docusign in a research note on Monday, April 21st. Twelve 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 stock presently has a consensus rating of "Hold" and an average price target of $89.77.

Docusign Stock Down 0.8%

Shares of DOCU traded down $0.65 during trading on Wednesday, reaching $79.23. 246,071 shares of the company traded hands, compared to its average volume of 2,601,661. Docusign Inc. has a twelve month low of $48.80 and a twelve month high of $107.86. The stock has a 50-day simple moving average of $79.77 and a 200-day simple moving average of $82.90. The stock has a market cap of $16.01 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 30.00 and a beta of 1.08.

Docusign (NASDAQ:DOCU - Get Free Report) last released 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. The company had revenue of $763.65 million for the quarter, compared to analyst estimates of $748.79 million. Docusign had a net margin of 36.50% and a return on equity of 14.27%. The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 EPS. On average, equities research analysts predict that Docusign Inc. will post 1.17 EPS for the current year.

Docusign declared that its board has approved a stock buyback plan on Thursday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows 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 management believes its stock is undervalued.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $74.37, for a total transaction of $39,713.58. Following the completion of the transaction, the director directly owned 8,805 shares in the company, valued at approximately $654,827.85. This represents a 5.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Chatwani sold 22,875 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 72,126 shares of the company's stock, valued at approximately $5,394,303.54. This trade represents a 24.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,552 shares of company stock valued at $5,983,631 in the last 90 days. Company insiders own 1.66% of the company's stock.

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.