OP Asset Management Ltd Purchases New Holdings in Docusign Inc. $DOCU

OP Asset Management Ltd purchased a new position in shares of Docusign Inc. (NASDAQ:DOCU) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 82,919 shares of the company’s stock, valued at approximately $3,931,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division acquired a new position in Docusign in the 4th quarter valued at $25,000. Modus Advisors LLC acquired a new stake in shares of Docusign during the 4th quarter worth $27,000. Torren Management LLC acquired a new stake in shares of Docusign during the 4th quarter worth $28,000. Aventura Private Wealth LLC bought a new position in shares of Docusign in the fourth quarter worth $30,000. Finally, True Wealth Design LLC increased its position in shares of Docusign by 105.2% in 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 during the period. Institutional investors own 77.64% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on DOCU. Wells Fargo & Company cut their price objective on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, June 5th. Jefferies Financial Group raised their target price on shares of Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday, June 5th. Bank of America initiated coverage on shares of Docusign in a research report on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 target price for the company. UBS Group set a $60.00 price target on shares of Docusign in a report on Friday, June 5th. Finally, Weiss Ratings upgraded shares of Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 3rd. Three equities 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 a consensus target price of $60.27.

Docusign Stock Performance

Docusign stock opened at $45.31 on Friday. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $86.65. The stock has a market capitalization of $8.65 billion, a P/E ratio of 29.43, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. The stock has a fifty day moving average of $47.01 and a 200-day moving average of $51.72.

Docusign (NASDAQ:DOCU) last released its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $824.71 million. During the same period last year, the firm posted $0.90 earnings per share. Docusign’s revenue was up 8.7% compared to the same quarter last year. On average, research analysts forecast that Docusign Inc. will post 1.97 earnings per share for the current year.

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

Insider Transactions at Docusign

In related news, insider Robert Chatwani sold 15,902 shares of Docusign stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $43.01, for a total transaction of $683,945.02. Following the sale, the insider directly owned 72,805 shares of the company’s stock, valued at approximately $3,131,343.05. The trade was a 17.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total transaction of $281,040.00. Following the transaction, the executive 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 64,695 shares of company stock valued at $3,006,682. 0.59% of the stock is owned by company insiders.

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.