58,100 Shares in Docusign Inc. $DOCU Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in Docusign Inc. (NASDAQ:DOCU) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 58,100 shares of the company’s stock, valued at approximately $2,755,000.

A number of other large investors have also recently made changes to their positions in DOCU. NewEdge Advisors LLC lifted its stake in Docusign by 36.4% during the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after acquiring an additional 2,457 shares in the last quarter. Guggenheim Capital LLC lifted its position in Docusign by 6.7% during the second quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock valued at $899,000 after purchasing an additional 729 shares during the last quarter. State Street Corp lifted its position in Docusign by 3.0% in the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after buying an additional 236,494 shares during the last quarter. Sei Investments Co. grew its stake in shares of Docusign by 60.7% during the second quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock valued at $3,146,000 after buying an additional 15,247 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of Docusign by 51.0% in the second quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock worth $14,735,000 after buying an additional 63,911 shares during the period. 77.64% of the stock is owned by institutional investors.

Docusign Stock Up 0.2%

NASDAQ:DOCU opened at $45.31 on Monday. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 1.37 and a beta of 0.92. The firm has a 50 day moving average of $47.01 and a 200 day moving average of $51.62. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $86.65.

Docusign (NASDAQ:DOCU) last issued 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 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 quarter in the previous year, the firm earned $0.90 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. As a group, analysts expect that Docusign Inc. will post 1.97 EPS for the current year.

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

Insider Transactions at Docusign

In other Docusign news, insider Robert Chatwani sold 15,902 shares of the company’s stock in a transaction 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 completion of the transaction, the insider directly owned 72,805 shares in the company, valued at approximately $3,131,343.05. This represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 firm’s stock in a transaction that occurred 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 owned 79,233 shares in the company, valued at approximately $3,711,273.72. This trade represents a 7.04% 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. Over the last 90 days, insiders sold 64,695 shares of company stock worth $3,006,682. Insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on DOCU. Robert W. Baird decreased their price objective on shares of Docusign from $75.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Wedbush decreased their price target on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research note on Friday, June 5th. Citizens Jmp cut their price target on Docusign from $124.00 to $86.00 and set a “market outperform” rating for the company in a report on Wednesday, March 18th. Finally, UBS Group set a $60.00 price objective on shares of Docusign in a research note on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Docusign has a consensus rating of “Hold” and an average target price of $60.27.

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.