DocuSign, Inc. (NASDAQ:DOCU) Shares Purchased by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC raised its stake in DocuSign, Inc. (NASDAQ:DOCU) by 23.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 9,719 shares of the company’s stock after buying an additional 1,817 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in DocuSign were worth $791,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kestra Investment Management LLC acquired a new stake in shares of DocuSign in the 4th quarter worth about $30,000. First Horizon Advisors Inc. grew its position in DocuSign by 102.6% in the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new stake in shares of DocuSign in the fourth quarter valued at approximately $37,000. MassMutual Private Wealth & Trust FSB increased its stake 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 purchasing an additional 274 shares during the period. Finally, McIlrath & Eck LLC raised its holdings in shares of DocuSign by 476.0% during 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. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Stock Down 19.0%

Shares of NASDAQ DOCU opened at $75.28 on Monday. The stock’s fifty day simple moving average is $82.08 and its 200 day simple moving average is $86.32. The stock has a market capitalization of $15.24 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 6.94 and a beta of 1.14. DocuSign, Inc. has a 52-week low of $48.80 and a 52-week high of $107.86.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.09. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm had revenue of $763.65 million for the quarter, compared to the consensus estimate of $748.79 million. During the same quarter in the previous year, the company earned $0.82 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts anticipate that DocuSign, Inc. will post 1.17 earnings per share for the current year.

DocuSign announced that its Board of Directors has approved a share buyback program on Thursday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 6.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other DocuSign news, Director Teresa Briggs sold 534 shares of DocuSign stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.41, for a total transaction of $46,676.94. Following the transaction, the director now directly owns 8,270 shares in the company, valued at approximately $722,880.70. The trade was a 6.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the sale, the insider now owns 76,842 shares of the company’s stock, valued at $6,392,485.98. The trade was a 16.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock worth $3,912,239 over the last 90 days. 1.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DOCU. JMP Securities reiterated a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research report on Tuesday, June 3rd. Robert W. Baird reduced their price target on shares of DocuSign from $93.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday. Citigroup raised their price objective on shares of DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a report on Friday. Finally, William Blair reaffirmed an “outperform” rating on shares of DocuSign in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $89.15.

DocuSign Company 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.