DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC cut its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 11.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,827 shares of the company’s stock after selling 750 shares during the period. Intellectus Partners LLC’s holdings in DocuSign were worth $474,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI raised its position in DocuSign by 2.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock worth $539,000 after acquiring an additional 133 shares during the last quarter. Rakuten Securities Inc. increased its stake in shares of DocuSign by 20.9% during the 4th quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock worth $72,000 after purchasing an additional 138 shares in the last quarter. Synergy Financial Group LTD raised its position in shares of DocuSign by 3.4% during the 4th quarter. Synergy Financial Group LTD now owns 4,241 shares of the company’s stock worth $381,000 after purchasing an additional 140 shares during the last quarter. M&T Bank Corp lifted its stake in DocuSign by 1.3% in the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock valued at $975,000 after buying an additional 143 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in DocuSign by 34.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company’s stock valued at $50,000 after buying an additional 143 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Stock Performance

Shares of DOCU stock opened at $75.28 on Friday. The firm has a market capitalization of $15.24 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 6.94 and a beta of 1.21. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86. The company has a 50 day moving average price of $82.08 and a 200 day moving average price of $86.22.

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

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

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the sale, the director now owns 8,270 shares of the company’s stock, valued at $722,880.70. This represents a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the completion of the transaction, the insider now directly owns 76,842 shares in the company, valued at approximately $6,392,485.98. This represents a 16.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock valued at $3,912,239 in the last three months. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DOCU. UBS Group cut their price target on DocuSign from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Friday. HSBC upgraded DocuSign from a “reduce” rating to a “hold” rating and set a $70.00 price objective for the company in a research report on Friday, April 11th. JMP Securities restated a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of DocuSign from $81.00 to $77.00 and set a “neutral” rating for the company in a report on Friday. Finally, Wells Fargo & Company boosted their price objective on shares of DocuSign from $65.00 to $67.00 and gave the company an “underweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, DocuSign presently has an average rating of “Hold” and a consensus target price of $89.15.

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.