Intech Investment Management LLC Increases Stock Holdings in Docusign Inc. $DOCU

Intech Investment Management LLC lifted its stake in shares of Docusign Inc. (NASDAQ:DOCU) by 2,426.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 86,307 shares of the company’s stock after acquiring an additional 82,891 shares during the period. Intech Investment Management LLC’s holdings in Docusign were worth $5,903,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings in Docusign by 15.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,229 shares of the company’s stock worth $89,000 after purchasing an additional 161 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Docusign by 8.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock worth $166,000 after purchasing an additional 165 shares during the last quarter. Centaurus Financial Inc. increased its holdings in Docusign by 3.4% during the 3rd quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock worth $402,000 after purchasing an additional 184 shares during the last quarter. Clearstead Advisors LLC increased its holdings in Docusign by 12.1% during the 3rd quarter. Clearstead Advisors LLC now owns 1,872 shares of the company’s stock worth $135,000 after purchasing an additional 202 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC increased its holdings in Docusign by 1.6% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 14,198 shares of the company’s stock worth $1,024,000 after purchasing an additional 220 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Docusign

In related news, 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 transaction, the insider owned 53,631 shares in the company, valued at $2,511,539.73. The trade was a 18.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $46.84, for a total value of $281,040.00. Following the transaction, the executive owned 79,233 shares of the company’s stock, valued at $3,711,273.72. This represents a 7.04% decrease in their position. 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 64,309 shares of company stock valued at $3,061,570 over the last quarter. Insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Jefferies Financial Group downgraded Docusign from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $105.00 to $45.00 in a report on Monday, February 23rd. Robert W. Baird dropped their price objective on Docusign from $75.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Citigroup downgraded Docusign from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $99.00 to $50.00 in a report on Friday, April 10th. BTIG Research restated a “buy” rating and set a $70.00 price objective on shares of Docusign in a report on Wednesday, March 18th. Finally, Piper Sandler lowered their price target on Docusign from $75.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Docusign currently has an average rating of “Hold” and a consensus price target of $61.40.

Docusign Price Performance

Docusign stock opened at $52.52 on Friday. The company has a market cap of $10.20 billion, a PE ratio of 35.49, a P/E/G ratio of 2.00 and a beta of 0.88. The company has a fifty day moving average price of $47.23 and a two-hundred day moving average price of $54.72. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $94.67.

Docusign (NASDAQ:DOCU) last released its quarterly earnings data on Tuesday, March 17th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $836.86 million during the quarter, compared to the consensus estimate of $828.23 million. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 earnings per share. Equities research analysts anticipate that Docusign Inc. will post 1.75 earnings per share for the current year.

Docusign declared that its board has initiated a share buyback plan on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 21% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Docusign

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.