Prakash Investment Advisors LLC Sells 4,000 Shares of Docusign Inc. (NASDAQ:DOCU)

Prakash Investment Advisors LLC lowered its holdings in Docusign Inc. (NASDAQ:DOCU - Free Report) by 44.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,000 shares of the company's stock after selling 4,000 shares during the quarter. Prakash Investment Advisors LLC's holdings in Docusign were worth $407,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DOCU. FMR LLC raised its stake in shares of Docusign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company's stock worth $548,726,000 after acquiring an additional 3,908,139 shares in the last quarter. Invesco Ltd. raised its stake in shares of Docusign by 283.9% during the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock worth $310,048,000 after acquiring an additional 2,549,310 shares in the last quarter. Norges Bank bought a new position in shares of Docusign during the 4th quarter worth approximately $223,196,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Docusign by 201.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company's stock worth $194,118,000 after acquiring an additional 1,442,639 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. raised its stake in shares of Docusign by 34.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company's stock worth $427,642,000 after acquiring an additional 1,205,500 shares in the last quarter. Institutional investors own 77.64% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on DOCU shares. JMP Securities reiterated a "market outperform" rating and set a $124.00 price objective on shares of Docusign in a research note on Tuesday, June 3rd. Jefferies Financial Group reduced their price objective on shares of Docusign from $115.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Citigroup reduced their price objective 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 reduced their price objective 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, HSBC upgraded shares of Docusign from a "reduce" rating to a "hold" rating and set a $70.00 price target on the stock in a research note 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 has an average rating of "Hold" and an average target price of $89.77.

Insider Transactions at Docusign

In other news, CFO Blake Jeffrey Grayson sold 15,143 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $74.80, for a total value of $1,132,696.40. Following the sale, the chief financial officer now owns 110,723 shares in the company, valued at $8,282,080.40. This represents a 12.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Chatwani sold 22,875 shares of the stock in a transaction 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 now owns 72,126 shares in the company, valued at $5,394,303.54. The trade was a 24.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,052 shares of company stock worth $4,101,776 over the last 90 days. 1.01% of the stock is currently owned by company insiders.

Docusign Trading Up 1.2%

Shares of Docusign stock opened at $76.47 on Friday. Docusign Inc. has a 12-month low of $48.80 and a 12-month high of $107.86. The firm has a market capitalization of $15.45 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 29.00 and a beta of 1.14. The firm's 50 day simple moving average is $82.17 and its two-hundred day simple moving average is $85.11.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.90 earnings per share for the quarter, topping 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 36.50% and a return on equity of 14.27%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, sell-side analysts predict that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign announced that its board has authorized a share buyback 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 typically a sign that the company's board of directors believes its shares are 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.