Burney Co. Sells 45,007 Shares of Docusign Inc. $DOCU

Burney Co. decreased its holdings in shares of Docusign Inc. (NASDAQ:DOCU) by 38.6% in the first quarter, Holdings Channel.com reports. The firm owned 71,521 shares of the company’s stock after selling 45,007 shares during the period. Burney Co.’s holdings in Docusign were worth $3,391,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Nordea Investment Management AB boosted its stake in Docusign by 3.8% in the 4th quarter. Nordea Investment Management AB now owns 1,198,634 shares of the company’s stock worth $82,502,000 after purchasing an additional 43,810 shares in the last quarter. Step Capital Management Pte. Ltd. bought a new stake in Docusign during the 4th quarter valued at about $2,052,000. Retirement Systems of Alabama raised its holdings in Docusign by 4.9% in the fourth 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. Aquatic Capital Management LLC purchased a new position in Docusign in the third quarter worth about $5,057,000. Finally, TABR Capital Management LLC bought a new position in shares of Docusign in the fourth quarter worth approximately $3,462,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Docusign

In other Docusign news, insider Robert Chatwani sold 15,902 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $43.01, for a total value of $683,945.02. Following the transaction, the insider owned 72,805 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 6,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total value of $273,240.00. Following the completion of the transaction, the executive directly owned 89,972 shares in the company, valued at approximately $4,097,324.88. This represents a 6.25% 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. Insiders have sold 76,695 shares of company stock valued at $3,476,002 in the last 90 days. 0.59% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DOCU shares. Wall Street Zen upgraded shares of Docusign from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Royal Bank Of Canada decreased their price objective on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating for the company in a report on Wednesday, March 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research report on Friday, June 5th. Citizens Jmp cut their target price on Docusign from $124.00 to $86.00 and set a “market outperform” rating on the stock in a research note on Wednesday, March 18th. Finally, UBS Group set a $60.00 target price on Docusign in a report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $60.27.

Docusign Stock Up 0.7%

Shares of Docusign stock opened at $47.23 on Wednesday. Docusign Inc. has a twelve month low of $40.16 and a twelve month high of $86.65. The company’s 50 day moving average is $46.91 and its 200 day moving average is $50.48. The company has a market cap of $9.02 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 1.38 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. The business had revenue of $830.24 million during the quarter, compared to analyst estimates of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 EPS. Sell-side analysts expect that Docusign Inc. will post 2.03 EPS for the current fiscal year.

Docusign announced that its Board of Directors has approved a share buyback plan on Tuesday, March 17th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 21% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

About Docusign

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.