VIRGINIA RETIREMENT SYSTEMS ET Al Purchases 47,000 Shares of Docusign Inc. $DOCU

Key Points

• Virginia Retirement Systems ET Al increased its Docusign stake by 18.2% in the fourth quarter, buying 47,000 more shares and bringing its total holding to 305,315 shares worth about $20.9 million.
• Docusign reported stronger-than-expected quarterly results, with EPS of $1.01 versus $0.95 expected and revenue of $836.9 million, up 7.8% year over year.
• The company also authorized a $2 billion stock repurchase plan, while analysts remain cautious overall with a consensus rating of “Hold” and an average price target of $61.40.

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Docusign Inc. (NASDAQ:DOCU - Free Report) by 18.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 305,315 shares of the company's stock after acquiring an additional 47,000 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.15% of Docusign worth $20,884,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in Docusign in the fourth quarter valued at $25,000. Torren Management LLC bought a new stake in Docusign in the fourth quarter valued at $28,000. True Wealth Design LLC grew its position in Docusign by 105.2% in the fourth 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. Aventura Private Wealth LLC bought a new stake in Docusign in the fourth quarter valued at $30,000. Finally, CX Institutional grew its position in Docusign by 5,860.0% in the third quarter. CX Institutional now owns 596 shares of the company's stock valued at $43,000 after acquiring an additional 586 shares during the period. 77.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Docusign

In other news, CEO Allan C. Thygesen sold 26,250 shares of the company's 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 owned 152,237 shares of the company's stock, valued at $7,273,883.86. This represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 16,696 shares of the company's stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $48.10, for a total value of $803,077.60. Following the transaction, the insider directly owned 72,458 shares in the company, valued at $3,485,229.80. This trade represents a 18.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 64,673 shares of company stock valued at $3,077,699 over the last ninety days. Company insiders own 1.01% of the company's stock.

Docusign Stock Down 0.2%

Shares of DOCU opened at $45.07 on Thursday. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $94.67. The firm has a market capitalization of $8.76 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 1.72 and a beta of 0.88. The stock's fifty day simple moving average is $46.88 and its 200-day simple moving average is $56.46.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $828.23 million. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts anticipate that Docusign Inc. will post 1.76 EPS for the current year.

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

Analyst Ratings Changes

DOCU has been the topic of a number of analyst reports. HSBC set a $53.00 price target on Docusign in a research report on Friday, February 13th. Weiss Ratings cut Docusign from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, April 15th. Jefferies Financial Group cut Docusign from a "buy" rating to a "hold" rating and lowered their price target for the company from $105.00 to $45.00 in a research report on Monday, February 23rd. Royal Bank Of Canada lowered their price target on Docusign from $70.00 to $55.00 and set a "sector perform" rating on the stock in a research report on Wednesday, March 18th. Finally, Robert W. Baird decreased their target price on Docusign from $75.00 to $55.00 and set a "neutral" rating on the stock in a report on Wednesday, March 18th. Three research 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. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $61.40.

Docusign Profile

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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