Krilogy Financial LLC Purchases New Position in Docusign Inc. $DOCU

Krilogy Financial LLC acquired a new stake in Docusign Inc. (NASDAQ:DOCU) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,785 shares of the company’s stock, valued at approximately $635,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of DOCU. Central Pacific Bank Trust Division acquired a new stake in shares of Docusign in the fourth quarter valued at about $25,000. Modus Advisors LLC acquired a new position in Docusign during the 4th quarter worth approximately $27,000. Torren Management LLC purchased a new position in Docusign in the 4th quarter worth approximately $28,000. True Wealth Design LLC boosted its holdings in Docusign by 105.2% in the 4th quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after acquiring an additional 222 shares during the period. Finally, Aventura Private Wealth LLC acquired a new stake in Docusign in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Stock Performance

DOCU opened at $45.31 on Friday. The company has a 50-day moving average of $47.01 and a 200-day moving average of $51.72. The company has a market capitalization of $8.65 billion, a P/E ratio of 29.43, a PEG ratio of 1.29 and a beta of 0.92. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $86.65.

Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The business had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. During the same quarter in the prior year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, sell-side analysts expect that Docusign Inc. will post 1.97 earnings per share for the current fiscal year.

Docusign announced that its Board of Directors has authorized a share buyback program on Tuesday, March 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 21% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Docusign

In other news, CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total value of $281,040.00. Following the completion of the sale, the executive directly owned 79,233 shares in the company, valued at approximately $3,711,273.72. The trade was a 7.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary Agnes Wilderotter sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $48.15, for a total value of $144,450.00. Following the sale, the director directly owned 59,803 shares in the company, valued at approximately $2,879,514.45. This represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 64,695 shares of company stock valued at $3,006,682 over the last 90 days. Corporate insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DOCU. Morgan Stanley dropped their price objective on shares of Docusign from $90.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 18th. Bank of America initiated coverage on shares of Docusign in a report on Tuesday, March 31st. They set an “underperform” rating and a $52.00 price target for the company. Wedbush cut their price objective on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. Royal Bank Of Canada decreased their price objective on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of Docusign in a research note on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $60.27.

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.