Vontobel Holding Ltd. Cuts Stake in Docusign Inc. (NASDAQ:DOCU)

Vontobel Holding Ltd. lowered its holdings in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 46.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,550 shares of the company's stock after selling 6,578 shares during the quarter. Vontobel Holding Ltd.'s holdings in Docusign were worth $615,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DOCU. Golden State Wealth Management LLC raised its holdings in shares of Docusign by 519.4% during the first quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock worth $31,000 after purchasing an additional 322 shares during the last quarter. Wood Tarver Financial Group LLC purchased a new stake in shares of Docusign during the fourth quarter worth approximately $37,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Docusign by 153.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock valued at $37,000 after buying an additional 274 shares during the last quarter. McIlrath & Eck LLC raised its position in shares of Docusign by 476.0% in the fourth quarter. McIlrath & Eck LLC now owns 432 shares of the company's stock valued at $39,000 after buying an additional 357 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Docusign by 490.0% in the fourth quarter. Bessemer Group Inc. now owns 472 shares of the company's stock valued at $42,000 after purchasing an additional 392 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

Docusign Stock Performance

Shares of NASDAQ DOCU traded up $0.31 during trading hours on Tuesday, reaching $77.95. 1,878,775 shares of the stock were exchanged, compared to its average volume of 2,861,488. Docusign Inc. has a 52 week low of $48.80 and a 52 week high of $107.86. The firm has a market capitalization of $15.75 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 29.49 and a beta of 1.08. The stock's fifty day simple moving average is $82.11 and its 200 day simple moving average is $84.31.

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

Docusign declared that its board has approved a stock buyback program on Thursday, June 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Hsbc Global Res upgraded Docusign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. Citigroup lowered their price objective on shares of Docusign from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, June 9th. JMP Securities reaffirmed a "market outperform" rating and issued a $124.00 price objective on shares of Docusign in a report on Tuesday, June 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Docusign from $81.00 to $77.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. Finally, Jefferies Financial Group decreased their target price on shares of Docusign from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $89.77.

Insider Transactions at Docusign

In other Docusign news, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $74.37, for a total value of $39,713.58. Following the transaction, the director directly owned 8,805 shares of the company's stock, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 22,875 shares of Docusign stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $74.79, for a total value of $1,710,821.25. Following the sale, the insider directly owned 72,126 shares in the company, valued at $5,394,303.54. This trade represents a 24.08% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,552 shares of company stock worth $6,592,351. 1.66% of the stock is owned by corporate insiders.

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.