Versor Investments LP Acquires 27,444 Shares of Docusign Inc. $DOCU

Key Points

• Versor Investments LP increased its Docusign stake by 241.7% in the fourth quarter, buying 27,444 additional shares and bringing its total holdings to 38,800 shares valued at about $2.65 million.
• Several insiders sold shares in early April, including CEO Allan C. Thygesen and insider James P. Shaughnessy, with total insider sales reaching 64,673 shares over the last 90 days.
• Analysts turned more cautious on DOCU, with Citigroup cutting the stock to neutral and lowering its price target to $50; the consensus analyst rating is now Hold with an average target of $61.40.

Versor Investments LP lifted its position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 241.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,800 shares of the company's stock after acquiring an additional 27,444 shares during the period. Versor Investments LP's holdings in Docusign were worth $2,654,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Wealth LLC lifted its holdings in shares of Docusign by 45.5% during the 4th quarter. NewEdge Wealth LLC now owns 17,622 shares of the company's stock worth $1,205,000 after acquiring an additional 5,508 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in shares of Docusign by 12.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 64,548 shares of the company's stock worth $4,415,000 after acquiring an additional 6,900 shares during the period. Ethic Inc. lifted its holdings in shares of Docusign by 73.7% during the 4th quarter. Ethic Inc. now owns 7,893 shares of the company's stock worth $540,000 after acquiring an additional 3,348 shares during the period. Ballentine Partners LLC lifted its holdings in shares of Docusign by 7.8% during the 4th quarter. Ballentine Partners LLC now owns 3,529 shares of the company's stock worth $241,000 after acquiring an additional 254 shares during the period. Finally, Crestwood Advisors Group LLC acquired a new position in Docusign during the 4th quarter worth approximately $247,000. Institutional investors own 77.64% of the company's stock.

Insider Buying and Selling at Docusign

In related news, insider James P. Shaughnessy sold 12,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $46.83, for a total transaction of $561,960.00. Following the transaction, the insider directly owned 53,631 shares of the company's stock, valued at $2,511,539.73. This represents a 18.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $47.78, for a total transaction of $1,254,225.00. Following the transaction, the chief executive officer directly owned 152,237 shares in the company, valued at approximately $7,273,883.86. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 64,673 shares of company stock valued at $3,077,699 over the last 90 days. Insiders own 1.66% of the company's stock.

Analyst Ratings Changes

DOCU has been the subject of a number of research analyst reports. Citigroup cut shares of Docusign from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $99.00 to $50.00 in a research report on Friday, April 10th. Wells Fargo & Company decreased their price target on shares of Docusign from $75.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 18th. BTIG Research restated a "buy" rating and issued a $70.00 price target on shares of Docusign in a research report on Wednesday, March 18th. Morgan Stanley decreased their price target on shares of Docusign from $90.00 to $69.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 18th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Docusign from $78.00 to $65.00 and set a "neutral" rating for the company in a research report on Wednesday, March 18th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $61.40.

Docusign Stock Down 5.0%

DOCU opened at $45.49 on Tuesday. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $94.67. The company has a fifty day moving average of $46.90 and a 200-day moving average of $56.82. The stock has a market cap of $8.84 billion, a PE ratio of 30.74, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $836.86 million during the quarter, compared to analysts' expectations of $828.23 million. Docusign had a net margin of 9.60% and a return on equity of 16.86%. Docusign's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 earnings per share. Sell-side analysts anticipate that Docusign Inc. will post 1.76 EPS for the current fiscal year.

Docusign declared that its board has authorized a share repurchase plan on Tuesday, March 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 21% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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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