33,026 Shares in Docusign Inc. $DOCU Acquired by Strategic Global Advisors LLC

Strategic Global Advisors LLC purchased a new position in Docusign Inc. (NASDAQ:DOCU) in the fourth quarter, Holdings Channel reports. The fund purchased 33,026 shares of the company’s stock, valued at approximately $2,259,000.

Other institutional investors have also modified their holdings of the company. Nordea Investment Management AB lifted its position in shares of Docusign by 3.8% during the 4th quarter. Nordea Investment Management AB now owns 1,198,634 shares of the company’s stock worth $82,502,000 after buying an additional 43,810 shares during the last quarter. Step Capital Management Pte. Ltd. purchased a new stake in shares of Docusign during the 4th quarter worth approximately $2,052,000. Retirement Systems of Alabama lifted its position in shares of Docusign by 4.9% during the 4th quarter. Retirement Systems of Alabama now owns 544,473 shares of the company’s stock worth $37,242,000 after buying an additional 25,367 shares during the last quarter. South Dakota Investment Council lifted its position in shares of Docusign by 140.6% during the 3rd quarter. South Dakota Investment Council now owns 53,373 shares of the company’s stock worth $3,848,000 after buying an additional 31,192 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new stake in shares of Docusign during the 3rd quarter worth approximately $17,614,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on DOCU shares. Royal Bank Of Canada reduced their price objective on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 18th. 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. Wells Fargo & Company reduced 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. Citigroup upped their price target on shares of Docusign from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. Finally, UBS Group set a $60.00 price target on shares of Docusign in a research report on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company 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 stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $48.15, for a total value of $144,450.00. Following the sale, the director directly owned 59,803 shares of the company’s stock, valued at approximately $2,879,514.45. This represents a 4.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James P. Shaughnessy sold 12,000 shares of the 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 directly owned 53,631 shares in the company, valued at approximately $2,511,539.73. The trade was a 18.28% 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. Insiders sold 65,489 shares of company stock worth $3,125,814 in the last 90 days. Insiders own 0.59% of the company’s stock.

Docusign Price Performance

NASDAQ:DOCU opened at $45.03 on Monday. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $86.65. The stock has a market cap of $8.60 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. The firm’s fifty day simple moving average is $47.56 and its 200-day simple moving average is $53.38.

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

Docusign announced that its Board of Directors has approved a share buyback plan 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 plans are often an indication that the company’s management 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.