Hillsdale Investment Management Inc. Purchases Shares of 12,900 Docusign Inc. $DOCU

Hillsdale Investment Management Inc. purchased a new stake in Docusign Inc. (NASDAQ:DOCU) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 12,900 shares of the company’s stock, valued at approximately $882,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new position in Docusign in the 4th quarter valued at approximately $25,000. Torren Management LLC acquired a new position in Docusign in the 4th quarter valued at approximately $28,000. Aventura Private Wealth LLC acquired a new position in Docusign in the 4th quarter valued at approximately $30,000. True Wealth Design LLC increased its position in Docusign by 105.2% in the 4th quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after acquiring an additional 222 shares during the period. Finally, Cary Street Partners Investment Advisory LLC increased its position in Docusign by 309.5% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock valued at $38,000 after acquiring an additional 424 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DOCU shares. BTIG Research restated a “buy” rating and issued a $70.00 price target on shares of Docusign in a research report on Wednesday, March 18th. Robert W. Baird decreased their price target on shares of Docusign from $75.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. UBS Group decreased their price target on shares of Docusign from $75.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Citigroup lowered shares of Docusign from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $99.00 to $50.00 in a research note on Friday, April 10th. Finally, Wells Fargo & Company reduced their price objective on shares of Docusign from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 18th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.40.

Insider Buying and Selling at Docusign

In related news, insider James P. Shaughnessy sold 12,000 shares of Docusign stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $46.83, for a total value 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. This trade represents a 18.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $47.78, for a total transaction of $1,254,225.00. Following the completion of the sale, the chief executive officer directly owned 152,237 shares of the company’s stock, valued at approximately $7,273,883.86. The trade was a 14.71% 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 sold 64,309 shares of company stock valued at $3,061,570 over the last 90 days. Insiders own 0.59% of the company’s stock.

Docusign Stock Performance

NASDAQ:DOCU opened at $57.02 on Tuesday. The firm’s fifty day moving average is $47.41 and its 200-day moving average is $54.53. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $94.67. The firm has a market cap of $11.08 billion, a P/E ratio of 38.53, a P/E/G ratio of 2.01 and a beta of 0.88.

Docusign (NASDAQ:DOCU) last issued its earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.06. The business had revenue of $836.86 million for the quarter, compared to analyst estimates of $828.23 million. Docusign had a net margin of 9.60% and a return on equity of 16.86%. Docusign’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. As a group, sell-side analysts anticipate that Docusign Inc. will post 1.75 earnings per share for the current year.

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