Versor Investments LP Acquires 27,444 Shares of Docusign Inc. $DOCU

Versor Investments LP raised its holdings in Docusign Inc. (NASDAQ:DOCU) by 241.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,800 shares of the company’s stock after buying an additional 27,444 shares during the period. Versor Investments LP’s holdings in Docusign were worth $2,654,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in DOCU. Woodline Partners LP lifted its position in shares of Docusign by 24,412.7% during the third quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock valued at $69,130,000 after purchasing an additional 955,026 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Docusign by 132.8% during the second quarter. Alliancebernstein L.P. now owns 868,531 shares of the company’s stock valued at $67,650,000 after purchasing an additional 495,380 shares in the last quarter. Andra AP fonden bought a new position in shares of Docusign during the third quarter valued at about $34,956,000. Duquesne Family Office LLC lifted its position in shares of Docusign by 30.6% during the third quarter. Duquesne Family Office LLC now owns 1,685,950 shares of the company’s stock valued at $121,540,000 after purchasing an additional 395,510 shares in the last quarter. Finally, Danske Bank A S bought a new position in shares of Docusign during the third quarter valued at about $22,018,000. 77.64% of the stock is owned by institutional investors.

Docusign Price Performance

Shares of Docusign stock opened at $45.49 on Tuesday. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $94.67. The firm has a market cap of $8.84 billion, a PE ratio of 30.74, a PEG ratio of 1.83 and a beta of 0.88. The company has a 50 day simple moving average of $46.90 and a two-hundred day simple moving average of $56.82.

Docusign (NASDAQ:DOCU) last announced its earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The business had revenue of $836.86 million during the quarter, compared to analyst estimates of $828.23 million. During the same period in the previous year, the business posted $0.86 earnings per share. Docusign’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that Docusign Inc. will post 1.76 earnings per share for the current year.

Docusign declared that its Board of Directors has approved a stock repurchase program on Tuesday, March 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 21% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Robert Chatwani sold 16,696 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $48.10, for a total value of $803,077.60. Following the completion of the sale, the insider directly owned 72,458 shares in the company, valued at approximately $3,485,229.80. The trade was a 18.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James P. Shaughnessy sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.83, for a total transaction of $561,960.00. Following the completion of the sale, the insider owned 53,631 shares of the company’s stock, valued at approximately $2,511,539.73. The trade was a 18.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 64,673 shares of company stock worth $3,077,699 over the last ninety days. Corporate insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

DOCU has been the topic of a number of recent analyst reports. Citizens Jmp dropped their price target on shares of Docusign from $124.00 to $86.00 and set a “market outperform” rating on the stock in a research report on Wednesday, March 18th. Needham & Company LLC restated a “hold” rating on shares of Docusign in a report on Tuesday, March 10th. JPMorgan Chase & Co. decreased their price objective on shares of Docusign from $78.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Citigroup downgraded shares of Docusign from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $99.00 to $50.00 in a report on Friday, April 10th. Finally, Morgan Stanley reduced their target price on shares of Docusign from $90.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 18th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.40.

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.