Docusign Inc. $DOCU Shares Sold by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. decreased its holdings in shares of Docusign Inc. (NASDAQ:DOCU) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 684,522 shares of the company’s stock after selling 12,585 shares during the quarter. Clark Capital Management Group Inc. owned about 0.34% of Docusign worth $46,821,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DOCU. Norges Bank acquired a new position in shares of Docusign during the 4th quarter valued at $186,795,000. Capital World Investors lifted its holdings in shares of Docusign by 38.1% during the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after acquiring an additional 1,603,900 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Docusign by 24,412.7% during the 3rd quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock valued at $69,130,000 after acquiring an additional 955,026 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Docusign by 46.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,001,132 shares of the company’s stock valued at $205,277,000 after acquiring an additional 946,512 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Docusign by 1,575.5% during the 4th quarter. Marshall Wace LLP now owns 888,411 shares of the company’s stock valued at $60,767,000 after acquiring an additional 835,388 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Price Performance

Shares of DOCU stock opened at $44.43 on Wednesday. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65. The firm has a market capitalization of $8.48 billion, a P/E ratio of 28.85, a P/E/G ratio of 1.34 and a beta of 0.92. The company’s fifty day moving average price is $47.40 and its two-hundred day moving average price is $53.04.

Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. The business had revenue of $830.24 million for the quarter, compared to analyst estimates of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 EPS. On average, sell-side analysts anticipate that Docusign Inc. will post 1.97 EPS for the current year.

Docusign announced that its Board of Directors has authorized 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 buy up to 21% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Docusign

In other news, CEO Allan C. Thygesen sold 26,250 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $47.78, for a total value of $1,254,225.00. Following the sale, the chief executive officer owned 152,237 shares in the company, valued at approximately $7,273,883.86. This represents a 14.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were 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 in the company, valued at approximately $2,511,539.73. This trade represents a 18.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 48,793 shares of company stock worth $2,322,737. Company insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DOCU shares. Wedbush cut their price objective on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. Piper Sandler cut their price objective on shares of Docusign from $75.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Royal Bank Of Canada cut their price objective on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 18th. BTIG Research cut their price objective on shares of Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Finally, UBS Group set a $60.00 price objective on shares of Docusign in a report on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.27.

Docusign Company 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.