Simplicity Wealth LLC Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

Simplicity Wealth LLC acquired a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 19,785 shares of the company's stock, valued at approximately $1,610,000.

Other institutional investors also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new stake in shares of DocuSign during the 4th quarter valued at approximately $30,000. First Horizon Advisors Inc. raised its position in DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after purchasing an additional 201 shares during the period. Wood Tarver Financial Group LLC acquired a new position in shares of DocuSign in the 4th quarter valued at $37,000. MassMutual Private Wealth & Trust FSB grew its holdings 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 worth $37,000 after purchasing an additional 274 shares during the period. Finally, McIlrath & Eck LLC grew its holdings in shares of DocuSign by 476.0% during the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock worth $39,000 after purchasing an additional 357 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Trading Down 2.6%

DOCU stock traded down $1.95 during trading on Friday, hitting $74.06. 3,322,576 shares of the company's stock were exchanged, compared to its average volume of 2,849,306. The business has a 50-day moving average price of $82.21 and a two-hundred day moving average price of $86.01. The stock has a market capitalization of $14.96 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 6.94 and a beta of 1.14. DocuSign, Inc. has a 52-week low of $48.80 and a 52-week high of $107.86.

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, beating the consensus estimate of $0.81 by $0.09. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business had revenue of $763.65 million during the quarter, compared to analysts' expectations of $748.79 million. During the same quarter in the prior year, the business posted $0.82 EPS. The company's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

DocuSign declared that its board has authorized a share repurchase plan on Thursday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. UBS Group lowered their target price 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. Jefferies Financial Group decreased their price target on DocuSign from $115.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Morgan Stanley dropped their price objective on DocuSign from $92.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, June 6th. Bank of America dropped their target price on DocuSign from $88.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. Finally, Citigroup lowered 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. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $89.77.

Insider Buying and Selling at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares of the company's stock, valued at approximately $722,880.70. This represents a 6.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the transaction, the insider now owns 76,842 shares in the company, valued at $6,392,485.98. This trade represents a 16.97% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,851 shares of company stock worth $3,912,239. 1.01% of the stock is owned by insiders.

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.