DocuSign, Inc. (NASDAQ:DOCU) Stock Holdings Lessened by Fairvoy Private Wealth LLC

Fairvoy Private Wealth LLC reduced its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 80.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 7,322 shares of the company’s stock after selling 29,875 shares during the period. Fairvoy Private Wealth LLC’s holdings in DocuSign were worth $596,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Kestra Investment Management LLC bought a new position in shares of DocuSign in the 4th quarter worth about $30,000. First Horizon Advisors Inc. increased its holdings in shares of 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 acquiring an additional 201 shares during the period. Wood Tarver Financial Group LLC acquired a new stake in shares of DocuSign in the 4th quarter worth about $37,000. McIlrath & Eck LLC increased its holdings in shares of DocuSign by 476.0% in the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock worth $39,000 after acquiring an additional 357 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of DocuSign by 153.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company’s stock worth $37,000 after acquiring an additional 274 shares during the period. 77.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at DocuSign

In other news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total value of $609,825.00. Following the transaction, the insider now owns 45,875 shares of the company’s stock, valued at $3,730,096.25. This trade represents a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total transaction of $608,720.00. Following the completion of the transaction, the chief financial officer now directly owns 86,156 shares in the company, valued at approximately $6,555,610.04. This represents a 8.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,851 shares of company stock worth $3,912,239 over the last ninety days. 1.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DOCU has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of DocuSign from $81.00 to $77.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. Wedbush dropped their price objective on shares of DocuSign from $100.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday. Jefferies Financial Group dropped their price objective on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Citigroup dropped their price objective on shares of DocuSign from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, June 9th. Finally, UBS Group dropped their price objective on shares of DocuSign from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $89.77.

DocuSign Stock Performance

Shares of DOCU opened at $74.06 on Friday. The company’s 50 day moving average price is $82.21 and its 200 day moving average price is $86.05. DocuSign, Inc. has a 52 week low of $48.80 and a 52 week high of $107.86. The company has a market capitalization of $14.96 billion, a PE ratio of 15.27, a PEG ratio of 6.94 and a beta of 1.14.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The firm had revenue of $763.65 million for the quarter, compared to the consensus estimate of $748.79 million. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, equities analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current fiscal year.

DocuSign declared that its board has approved a share buyback plan on Thursday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.