Massachusetts Financial Services Co. MA Boosts Position in Docusign Inc. (NASDAQ:DOCU)

Massachusetts Financial Services Co. MA grew its position in shares of Docusign Inc. (NASDAQ:DOCU) by 148.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 590,762 shares of the company’s stock after acquiring an additional 353,320 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Docusign were worth $48,088,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of DOCU. FMR LLC boosted its position in Docusign by 178.2% during the fourth quarter. FMR LLC now owns 6,101,024 shares of the company’s stock valued at $548,726,000 after purchasing an additional 3,908,139 shares during the last quarter. American Century Companies Inc. increased its position in shares of Docusign by 18.5% in the fourth quarter. American Century Companies Inc. now owns 5,315,459 shares of the company’s stock valued at $478,072,000 after acquiring an additional 831,611 shares during the last quarter. Jericho Capital Asset Management L.P. grew its position in shares of Docusign by 34.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock valued at $427,642,000 after purchasing an additional 1,205,500 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Docusign by 4.9% in the 4th quarter. Renaissance Technologies LLC now owns 4,363,292 shares of the company’s stock valued at $392,434,000 after acquiring an additional 205,304 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Docusign by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,732,363 shares of the company’s stock worth $335,147,000 after acquiring an additional 249,179 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DOCU shares. William Blair reiterated an “outperform” rating on shares of Docusign in a research report on Monday, April 21st. JMP Securities reaffirmed a “market outperform” rating and set a $124.00 price target on shares of Docusign in a research note on Tuesday, June 3rd. Robert W. Baird reduced their price objective on Docusign from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, June 6th. Hsbc Global Res raised Docusign from a “moderate sell” rating to a “hold” rating in a research note on Friday, April 11th. Finally, Wedbush cut their price target on Docusign from $100.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, June 12th. Twelve equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $89.77.

Docusign Stock Up 0.6%

DOCU opened at $77.62 on Friday. 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 $15.68 billion, a P/E ratio of 14.67, a P/E/G ratio of 28.79 and a beta of 1.08. The firm’s 50 day moving average is $81.24 and its 200-day moving average is $83.48.

Docusign (NASDAQ:DOCU) 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 business had revenue of $763.65 million during the quarter, compared to analysts’ expectations of $748.79 million. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 EPS. Equities analysts expect that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

Docusign announced that its Board of Directors has initiated a share repurchase plan on Thursday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Docusign

In other Docusign news, Director Teresa Briggs sold 534 shares of Docusign stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $74.37, for a total value of $39,713.58. Following the completion of the sale, the director directly owned 8,805 shares in the company, valued at approximately $654,827.85. The trade was a 5.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Chatwani sold 22,875 shares of the firm’s stock in a transaction 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 transaction, the insider owned 72,126 shares in the company, valued at approximately $5,394,303.54. This trade represents a 24.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,552 shares of company stock valued at $5,983,631. Corporate insiders own 1.01% of the company’s stock.

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.