SG Americas Securities LLC Grows Holdings in Docusign Inc. $DOCU

SG Americas Securities LLC grew its position in Docusign Inc. (NASDAQ:DOCU) by 452.3% in the first quarter, HoldingsChannel reports. The fund owned 1,314,632 shares of the company’s stock after acquiring an additional 1,076,622 shares during the quarter. SG Americas Securities LLC’s holdings in Docusign were worth $62,327,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division purchased a new position in shares of Docusign in the 4th quarter valued at about $25,000. Modus Advisors LLC purchased a new position in Docusign during the fourth quarter worth approximately $27,000. Torren Management LLC purchased a new position in Docusign during the fourth quarter worth approximately $28,000. True Wealth Design LLC boosted its position in Docusign by 105.2% during the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after purchasing an additional 222 shares in the last quarter. Finally, Aventura Private Wealth LLC acquired a new stake in Docusign in the fourth quarter valued at approximately $30,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Docusign Trading Down 1.7%

DOCU stock opened at $42.71 on Tuesday. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.65. The business’s 50-day moving average is $47.11 and its 200 day moving average is $52.32. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 1.32 and a beta of 0.92.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business had revenue of $830.24 million during the quarter, compared to analysts’ expectations of $824.71 million. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts forecast that Docusign Inc. will post 1.97 EPS for the current fiscal year.

Docusign declared that its board has authorized a stock buyback program on Tuesday, March 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 21% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently commented on DOCU. Bank of America began coverage on Docusign in a research report on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 price objective for the company. Wedbush decreased their target price on Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. JPMorgan Chase & Co. dropped their price target on shares of Docusign from $78.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Weiss Ratings raised shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, June 3rd. Finally, Citizens Jmp reduced their price objective on shares of Docusign from $124.00 to $86.00 and set a “market outperform” rating for the company in a research report on Wednesday, March 18th. Three research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.27.

Insider Transactions at Docusign

In related news, Director Mary Agnes Wilderotter sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $48.15, for a total transaction of $144,450.00. Following the completion of the sale, the director directly owned 59,803 shares in the company, valued at approximately $2,879,514.45. The trade was a 4.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Paula Hansen sold 6,000 shares of the stock in a transaction 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 completion of the transaction, the executive directly owned 79,233 shares of the company’s stock, valued at approximately $3,711,273.72. This represents a 7.04% decrease in their ownership of the stock. 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. Over the last three months, insiders sold 64,695 shares of company stock valued at $3,006,682. Insiders own 0.59% of the company’s stock.

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.