TABR Capital Management LLC Makes New Investment in Docusign Inc. $DOCU

Key Points

• TABR Capital Management purchased a new stake in DocuSign of 50,617 shares (about $3.46 million) in the fourth quarter, according to its 13F filing.
• DocuSign beat Q4 expectations with $1.01 EPS versus $0.95 expected and revenue of $836.86 million, up 7.8% year-over-year.
• The board authorized a $2.0 billion share buyback (allowing repurchase of roughly 21% of shares), while insiders sold 64,673 shares (about $3.08 million) over the last 90 days under 10b5-1 plans.

TABR Capital Management LLC purchased a new stake in Docusign Inc. (NASDAQ:DOCU - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 50,617 shares of the company's stock, valued at approximately $3,462,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Central Pacific Bank Trust Division bought a new position in Docusign in the fourth quarter worth approximately $25,000. Aventura Private Wealth LLC bought a new stake in Docusign during the 4th quarter valued at $30,000. True Wealth Design LLC increased its holdings in shares of Docusign by 105.2% in the 4th quarter. True Wealth Design LLC now owns 433 shares of the company's stock valued at $30,000 after acquiring an additional 222 shares during the period. SJS Investment Consulting Inc. increased its holdings in shares of Docusign by 5,318.2% in the 3rd quarter. SJS Investment Consulting Inc. now owns 596 shares of the company's stock valued at $43,000 after acquiring an additional 585 shares during the period. Finally, CX Institutional raised its position in shares of Docusign by 5,860.0% in the 3rd quarter. CX Institutional now owns 596 shares of the company's stock worth $43,000 after acquiring an additional 586 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Docusign news, CRO Paula Hansen sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $46.84, for a total transaction of $281,040.00. Following the transaction, the executive owned 79,233 shares in the company, valued at approximately $3,711,273.72. This represents a 7.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $46.83, for a total transaction of $561,960.00. Following the completion of the transaction, the insider directly owned 53,631 shares of the company's stock, valued at approximately $2,511,539.73. This represents a 18.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 64,673 shares of company stock worth $3,077,699 over the last ninety days. Company insiders own 1.66% of the company's stock.

Docusign Price Performance

Shares of DOCU stock opened at $47.60 on Wednesday. The stock's fifty day moving average price is $46.31 and its 200 day moving average price is $58.78. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $94.67. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 1.82 and a beta of 0.99.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.06. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The business had revenue of $836.86 million during the quarter, compared to the consensus estimate of $828.23 million. During the same quarter last year, the company earned $0.86 earnings per share. The company's quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts anticipate that Docusign Inc. will post 1.76 earnings per share for the current year.

Docusign declared that its Board of Directors has initiated a share buyback program on Tuesday, March 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to reacquire up to 21% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

DOCU has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a research report on Tuesday, March 10th. Wells Fargo & Company reduced their target price on shares of Docusign from $75.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, March 18th. UBS Group lowered their price target on shares of Docusign from $75.00 to $54.00 and set a "neutral" rating on the stock in a report on Wednesday, March 18th. Bank of America started coverage on shares of Docusign in a research report on Tuesday, March 31st. They issued an "underperform" rating and a $52.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Docusign from $78.00 to $65.00 and set a "neutral" rating for the company in a research note on Wednesday, March 18th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Docusign presently has a consensus rating of "Hold" and a consensus price target of $61.40.

About Docusign

DocuSign, Inc NASDAQ: DOCU is a leading provider of electronic signature and digital transaction management solutions. The company's flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign's Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign's platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.

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