Robeco Institutional Asset Management B.V. Lowers Stock Holdings in Docusign Inc. (NASDAQ:DOCU)

Robeco Institutional Asset Management B.V. trimmed its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 36.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 490,720 shares of the company's stock after selling 277,457 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.24% of Docusign worth $39,945,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC increased its position in shares of Docusign by 519.4% in the first quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock worth $31,000 after purchasing an additional 322 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Docusign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock worth $36,000 after purchasing an additional 201 shares during the last quarter. Wood Tarver Financial Group LLC bought a new position in shares of Docusign in the fourth quarter worth approximately $37,000. MassMutual Private Wealth & Trust FSB increased 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 worth $37,000 after purchasing an additional 274 shares during the last quarter. Finally, McIlrath & Eck LLC increased 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 worth $39,000 after purchasing an additional 357 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Docusign

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of Docusign stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total value of $608,720.00. Following the sale, the chief financial officer now owns 86,156 shares in the company, valued at $6,555,610.04. The trade was a 8.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Teresa Briggs sold 534 shares of Docusign stock in a transaction on Monday, June 16th. The shares were sold at an average price of $74.37, for a total transaction of $39,713.58. Following the completion of the sale, the director now owns 8,805 shares in the company, valued at approximately $654,827.85. This trade represents a 5.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,052 shares of company stock worth $4,101,776 over the last quarter. Corporate insiders own 1.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DOCU. Needham & Company LLC restated a "hold" rating on shares of Docusign in a research report on Friday, June 6th. Royal Bank Of Canada restated a "sector perform" rating and issued a $90.00 price objective on shares of Docusign in a research report on Friday, March 14th. Hsbc Global Res upgraded shares of Docusign from a "moderate sell" rating to a "hold" rating in a research report on Friday, April 11th. 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 report on Friday, April 11th. Finally, Citigroup reduced their price target on shares of Docusign from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, June 9th. Twelve investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $89.77.

Docusign Stock Performance

Shares of Docusign stock opened at $76.47 on Friday. Docusign Inc. has a 52-week low of $48.80 and a 52-week high of $107.86. The stock has a market capitalization of $15.45 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 28.65 and a beta of 1.14. The company's 50 day moving average price is $82.17 and its 200-day moving average price is $85.17.

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

Docusign announced that its Board of Directors has approved a share buyback plan on Thursday, June 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

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.

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