RFG Advisory LLC Invests $274,000 in DocuSign, Inc. (NASDAQ:DOCU)

RFG Advisory LLC acquired a new position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,366 shares of the company's stock, valued at approximately $274,000.

Several other large investors also recently added to or reduced their stakes in DOCU. Kestra Investment Management LLC purchased a new stake in DocuSign during the 4th quarter worth about $30,000. First Horizon Advisors Inc. increased its position in shares of DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after buying an additional 201 shares during the period. Wood Tarver Financial Group LLC purchased a new stake in shares of DocuSign in the fourth quarter worth about $37,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of DocuSign by 153.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock valued at $37,000 after acquiring an additional 274 shares during the period. Finally, McIlrath & Eck LLC boosted its position in shares of DocuSign by 476.0% in the fourth 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 period. Hedge funds and other institutional investors own 77.64% of the company's stock.

Insider Activity

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total value of $609,825.00. Following the completion of the sale, the insider now owns 45,875 shares of the company's stock, valued at approximately $3,730,096.25. This trade represents a 14.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total transaction of $46,676.94. Following the completion of the sale, the director now owns 8,270 shares of the company's stock, valued at $722,880.70. This trade represents a 6.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,851 shares of company stock valued at $3,912,239. Corporate insiders own 1.01% of the company's stock.

DocuSign Price Performance

NASDAQ DOCU opened at $75.28 on Friday. The business has a 50 day simple moving average of $82.08 and a two-hundred day simple moving average of $86.27. DocuSign, Inc. has a 1-year low of $48.80 and a 1-year high of $107.86. The stock has a market capitalization of $15.24 billion, a PE ratio of 15.52, a P/E/G ratio of 6.94 and a beta of 1.21.

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 the consensus estimate of $0.81 by $0.09. The firm had revenue of $763.65 million for the quarter, compared to the consensus estimate of $748.79 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS. On average, analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

DocuSign announced that its board has approved a stock repurchase plan on Thursday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Hsbc Global Res raised shares of DocuSign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a report on Friday. JPMorgan Chase & Co. dropped their price objective on DocuSign from $81.00 to $77.00 and set a "neutral" rating for the company in a research note on Friday. Jefferies Financial Group reduced their target price on DocuSign from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, UBS Group decreased their target price on DocuSign from $85.00 to $80.00 and set a "neutral" rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $89.15.

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.

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