Victory Capital Management Inc. Boosts Holdings in Docusign Inc. (NASDAQ:DOCU)

Victory Capital Management Inc. boosted its holdings in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 251.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 734,588 shares of the company's stock after buying an additional 525,294 shares during the quarter. Victory Capital Management Inc. owned approximately 0.36% of Docusign worth $59,795,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Natixis Advisors LLC lifted its position in Docusign by 81.1% during the fourth quarter. Natixis Advisors LLC now owns 25,457 shares of the company's stock valued at $2,290,000 after purchasing an additional 11,399 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Docusign in the 4th quarter worth about $300,000. Signaturefd LLC grew its holdings in Docusign by 12.2% during the 4th quarter. Signaturefd LLC now owns 1,686 shares of the company's stock worth $152,000 after acquiring an additional 183 shares in the last quarter. Xponance Inc. grew its holdings in Docusign by 45.8% during the 4th quarter. Xponance Inc. now owns 51,709 shares of the company's stock worth $4,651,000 after acquiring an additional 16,249 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its holdings in shares of Docusign by 5.7% in the 4th quarter. Royal London Asset Management Ltd. now owns 85,080 shares of the company's stock valued at $7,652,000 after buying an additional 4,590 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

Insider Transactions at Docusign

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 transaction of $39,713.58. Following the completion of the sale, the director directly owned 8,805 shares of the company's stock, valued at $654,827.85. This trade represents a 5.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $77.51, for a total value of $3,100,400.00. Following the sale, the chief executive officer directly owned 143,983 shares of the company's stock, valued at approximately $11,160,122.33. This represents a 21.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,552 shares of company stock valued at $5,983,631 over the last ninety days. 1.01% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Morgan Stanley lowered their target price on shares of Docusign from $92.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, June 6th. Citigroup cut their price target on shares of Docusign from $115.00 to $110.00 and set a "buy" rating for the company in a report on Monday, June 9th. Robert W. Baird dropped their target price on shares of Docusign from $93.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Wells Fargo & Company raised shares of Docusign from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $67.00 to $80.00 in a research report on Friday, June 13th. Finally, HSBC raised shares of Docusign from a "reduce" rating to a "hold" rating and set a $70.00 price target on the stock in a research report on Friday, April 11th. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $89.77.

Docusign Stock Up 2.3%

Docusign stock traded up $1.75 during mid-day trading on Friday, hitting $79.37. The company had a trading volume of 1,956,220 shares, compared to its average volume of 2,889,264. The stock has a market cap of $16.04 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 29.62 and a beta of 1.08. Docusign Inc. has a 1 year low of $48.80 and a 1 year high of $107.86. The business has a fifty day moving average of $81.16 and a 200 day moving average of $83.37.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.81 by $0.09. The company had revenue of $763.65 million for the quarter, compared to analyst estimates of $748.79 million. Docusign had a net margin of 36.50% and a return on equity of 14.27%. The firm's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 earnings per share. Equities analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current year.

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

Docusign Profile

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.