16,400 Shares in Docusign Inc. (NASDAQ:DOCU) Purchased by South Dakota Investment Council

South Dakota Investment Council acquired 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 Securities and Exchange Commission (SEC). The institutional investor acquired 16,400 shares of the company's stock, valued at approximately $1,335,000.

Other hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its holdings in Docusign by 519.4% in the 1st quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock valued at $31,000 after purchasing an additional 322 shares in the last quarter. Wood Tarver Financial Group LLC purchased a new position in shares of Docusign during the 4th quarter worth $37,000. MassMutual Private Wealth & Trust FSB raised 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 acquiring an additional 274 shares during the period. McIlrath & Eck LLC increased its position 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 last quarter. Finally, Bessemer Group Inc. increased its position in shares of Docusign by 490.0% during the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company's stock worth $42,000 after purchasing an additional 392 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Insiders Place Their Bets

In other news, Director Teresa Briggs sold 534 shares of the business's 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 sale, the director owned 8,805 shares of the company's stock, valued at approximately $654,827.85. The trade was a 5.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Chatwani sold 22,875 shares of Docusign stock in a transaction on 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 completion of the transaction, the insider owned 72,126 shares in the company, 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. Insiders sold 78,552 shares of company stock worth $5,983,631 over the last 90 days. Insiders own 1.66% of the company's stock.

Docusign Stock Performance

NASDAQ DOCU traded up $2.04 during trading hours on Tuesday, hitting $81.38. 2,104,590 shares of the company's stock were exchanged, compared to its average volume of 2,885,222. The business's 50 day moving average is $81.16 and its 200-day moving average is $83.32. 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 $16.44 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 29.62 and a beta of 1.08.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) 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 firm earned $0.82 earnings per share. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign declared that its Board of Directors has authorized a share repurchase plan on Thursday, June 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Jefferies Financial Group cut their price objective on Docusign from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, March 31st. 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. JMP Securities reaffirmed a "market outperform" rating and issued a $124.00 target price on shares of Docusign in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. dropped their target price on Docusign from $81.00 to $77.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. Finally, UBS Group decreased their price objective on Docusign from $85.00 to $80.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Docusign presently has a consensus rating of "Hold" and an average target price of $89.77.

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.