Sierra Summit Advisors LLC bought a new stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 116,078 shares of the company's stock, valued at approximately $9,449,000. Docusign makes up 2.0% of Sierra Summit Advisors LLC's portfolio, making the stock its 16th biggest position. Sierra Summit Advisors LLC owned about 0.06% of Docusign as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in DOCU. Jericho Capital Asset Management L.P. boosted 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 valued at $427,642,000 after buying an additional 1,205,500 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Docusign by 809.6% during the 1st quarter. Pacer Advisors Inc. now owns 1,167,290 shares of the company's stock valued at $95,017,000 after buying an additional 1,038,962 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Docusign by 77.2% during the 4th quarter. Northern Trust Corp now owns 1,984,378 shares of the company's stock valued at $178,475,000 after buying an additional 864,408 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Docusign by 251.0% during the 1st quarter. Victory Capital Management Inc. now owns 734,588 shares of the company's stock valued at $59,795,000 after buying an additional 525,294 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Docusign by 362.2% during the 1st quarter. Jennison Associates LLC now owns 662,817 shares of the company's stock valued at $53,953,000 after buying an additional 519,423 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $74.37, for a total value of $39,713.58. Following the completion of the transaction, the director owned 8,805 shares in the company, valued at $654,827.85. This trade represents a 5.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert Chatwani sold 22,875 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $74.79, for a total value of $1,710,821.25. Following the sale, the insider owned 72,126 shares of the company's stock, valued at $5,394,303.54. The trade was a 24.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,552 shares of company stock worth $5,983,631. Company insiders own 1.66% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. Wells Fargo & Company upgraded Docusign from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $67.00 to $80.00 in a research note on Friday, June 13th. Morgan Stanley reduced their price objective on Docusign from $92.00 to $86.00 and set an "equal weight" rating on the stock in a research note on Friday, June 6th. UBS Group reduced their price objective on Docusign from $85.00 to $80.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. Robert W. Baird reduced their price objective on Docusign from $93.00 to $85.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. Finally, William Blair restated an "outperform" rating on shares of Docusign in a research note on Monday, April 21st. Thirteen 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 has an average rating of "Hold" and a consensus price target of $89.77.
Get Our Latest Stock Analysis on Docusign
Docusign Trading Up 1.3%
NASDAQ:DOCU traded up $0.88 during mid-day trading on Tuesday, reaching $68.02. 3,776,044 shares of the stock were exchanged, compared to its average volume of 2,605,675. The business has a fifty day moving average price of $77.42 and a 200 day moving average price of $81.74. The firm has a market capitalization of $13.74 billion, a PE ratio of 12.86, a PEG ratio of 25.82 and a beta of 1.01. Docusign Inc. has a 1-year low of $52.04 and a 1-year high of $107.86.
Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly 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. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The business had revenue of $763.65 million during the quarter, compared to analyst estimates of $748.79 million. During the same quarter last year, the company posted $0.82 EPS. Docusign's revenue for the quarter was up 7.6% on a year-over-year basis. On average, sell-side analysts forecast that Docusign Inc. will post 1.17 earnings per share for the current year.
Docusign announced that its Board of Directors has approved a share buyback program on Thursday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 6.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.
Docusign Profile
(
Free Report)
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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