GC Wealth Management RIA LLC Sells 15,537 Shares of Docusign Inc. $DOCU

GC Wealth Management RIA LLC reduced its position in Docusign Inc. (NASDAQ:DOCU) by 65.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,028 shares of the company’s stock after selling 15,537 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Docusign were worth $549,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in DOCU. Central Pacific Bank Trust Division bought a new stake in shares of Docusign in the fourth quarter valued at about $25,000. Torren Management LLC bought a new stake in shares of Docusign in the fourth quarter valued at about $28,000. Aventura Private Wealth LLC bought a new stake in shares of Docusign in the fourth quarter valued at about $30,000. True Wealth Design LLC raised its holdings in shares of Docusign by 105.2% in the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after acquiring an additional 222 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised its holdings in shares of Docusign by 5,318.2% in the third quarter. SJS Investment Consulting Inc. now owns 596 shares of the company’s stock valued at $43,000 after acquiring an additional 585 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CRO Paula Hansen sold 6,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total transaction of $281,040.00. Following the sale, the executive owned 79,233 shares in the company, valued at approximately $3,711,273.72. The trade was a 7.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 16,696 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $48.10, for a total value of $803,077.60. Following the sale, the insider owned 72,458 shares in the company, valued at $3,485,229.80. The trade was a 18.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 64,673 shares of company stock valued at $3,077,699 in the last three months. 1.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DOCU shares. Bank of America started coverage on Docusign in a report on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Docusign from $78.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Jefferies Financial Group downgraded shares of Docusign from a “buy” rating to a “hold” rating and reduced their target price for the stock from $105.00 to $45.00 in a report on Monday, February 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a report on Tuesday, March 10th. Finally, Robert W. Baird reduced their target price on shares of Docusign from $75.00 to $55.00 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 assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $61.40.

Docusign Stock Performance

Shares of Docusign stock opened at $45.99 on Friday. The company has a market capitalization of $8.94 billion, a PE ratio of 31.07, a P/E/G ratio of 1.79 and a beta of 0.99. The company has a 50-day simple moving average of $46.53 and a two-hundred day simple moving average of $57.75. Docusign Inc. has a one year low of $40.16 and a one year high of $94.67.

Docusign (NASDAQ:DOCU) last announced its earnings results on Tuesday, March 17th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The business 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 period in the previous year, the company posted $0.86 earnings per share. On average, equities analysts predict that Docusign Inc. will post 1.76 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 reacquire up to 21% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.