Praxis Investment Management Inc. Has $472,000 Stock Holdings in Docusign Inc. (NASDAQ:DOCU)

Praxis Investment Management Inc. decreased its position in shares of Docusign Inc. (NASDAQ:DOCU) by 27.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,800 shares of the company’s stock after selling 2,210 shares during the period. Praxis Investment Management Inc.’s holdings in Docusign were worth $472,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in shares of Docusign during the 4th quarter worth approximately $30,000. First Horizon Advisors Inc. boosted its position in shares of Docusign by 102.6% during the 4th quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after acquiring an additional 201 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new stake in shares of Docusign during the 4th quarter worth approximately $37,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Docusign by 153.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company’s stock worth $37,000 after acquiring an additional 274 shares in the last quarter. Finally, McIlrath & Eck LLC boosted its position in shares of Docusign by 476.0% during the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock worth $39,000 after acquiring an additional 357 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity

In other news, insider Robert Chatwani sold 22,875 shares of the firm’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $74.79, for a total transaction of $1,710,821.25. Following the completion of the transaction, the insider now owns 72,126 shares of the company’s stock, valued at approximately $5,394,303.54. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total transaction of $608,720.00. Following the transaction, the chief financial officer now directly owns 86,156 shares of the company’s stock, valued at $6,555,610.04. The trade was a 8.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,052 shares of company stock valued at $4,101,776. Insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Jefferies Financial Group reduced their price target on shares of Docusign from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Wells Fargo & Company raised shares of Docusign from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $67.00 to $80.00 in a research note on Friday, June 13th. Wedbush cut their target price on shares of Docusign from $100.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, June 12th. JPMorgan Chase & Co. cut their target price on shares of Docusign from $81.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, June 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of Docusign in a research report on Friday, June 6th. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $89.77.

Docusign Stock Performance

DOCU stock opened at $75.13 on Monday. The company has a fifty day moving average price of $82.23 and a 200-day moving average price of $85.86. The company has a market capitalization of $15.18 billion, a P/E ratio of 14.20, a PEG ratio of 28.49 and a beta of 1.14. Docusign Inc. has a 52-week low of $48.80 and a 52-week high of $107.86.

Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.09. The firm had revenue of $763.65 million during the quarter, compared to the consensus estimate of $748.79 million. Docusign had a net margin of 36.50% and a return on equity of 14.27%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 earnings per share. As a group, sell-side analysts forecast that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

Docusign declared that its Board of Directors has authorized a share repurchase program on Thursday, June 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 6.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Docusign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.