SG Americas Securities LLC Acquires 226,076 Shares of Docusign Inc. $DOCU

SG Americas Securities LLC grew its holdings in Docusign Inc. (NASDAQ:DOCU) by 1,894.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 238,010 shares of the company’s stock after purchasing an additional 226,076 shares during the period. SG Americas Securities LLC owned about 0.12% of Docusign worth $16,280,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Docusign by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 21,625,551 shares of the company’s stock worth $1,558,986,000 after buying an additional 225,525 shares during the period. State Street Corp boosted its position in Docusign by 0.5% in the 3rd quarter. State Street Corp now owns 8,116,797 shares of the company’s stock valued at $585,140,000 after buying an additional 41,821 shares during the period. Invesco Ltd. boosted its position in Docusign by 4.5% in the 3rd quarter. Invesco Ltd. now owns 2,690,121 shares of the company’s stock valued at $193,931,000 after buying an additional 116,047 shares during the period. Northern Trust Corp grew its stake in Docusign by 2.0% in the 3rd quarter. Northern Trust Corp now owns 1,994,004 shares of the company’s stock worth $143,748,000 after acquiring an additional 39,140 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Docusign by 0.5% during the third quarter. Wellington Management Group LLP now owns 1,860,347 shares of the company’s stock worth $134,112,000 after acquiring an additional 9,861 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

Docusign Stock Down 3.1%

Shares of DOCU stock opened at $45.71 on Friday. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 1.92 and a beta of 1.03. Docusign Inc. has a 52-week low of $40.16 and a 52-week high of $94.67. The company’s 50 day moving average is $48.28 and its 200 day moving average is $62.97.

Docusign (NASDAQ:DOCU) last posted its earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The company had revenue of $836.86 million during the quarter, compared to analyst estimates of $828.23 million. During the same quarter in the prior year, the business earned $0.86 earnings per share. Docusign’s revenue was up 7.8% on a year-over-year basis. Analysts anticipate that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign announced that its Board of Directors has authorized a stock buyback plan on Tuesday, March 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to repurchase up to 21% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Docusign

In other Docusign news, CFO Blake Jeffrey Grayson sold 6,500 shares of the stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $70.00, for a total transaction of $455,000.00. Following the completion of the sale, the chief financial officer directly owned 111,713 shares of the company’s stock, valued at approximately $7,819,910. This represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Chatwani sold 16,696 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $48.10, for a total transaction of $803,077.60. Following the completion of the sale, the insider owned 72,458 shares in the company, valued at $3,485,229.80. This represents a 18.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 68,173 shares of company stock valued at $4,324,684 over the last 90 days. Company insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

DOCU has been the subject of several research analyst reports. Citizens Jmp decreased their price target on shares of Docusign from $124.00 to $86.00 and set a “market outperform” rating for the company in a research note on Wednesday, March 18th. Morgan Stanley reduced their price objective on Docusign from $90.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 18th. HSBC set a $53.00 target price on Docusign in a research report on Friday, February 13th. Cantor Fitzgerald reissued an “outperform” rating on shares of Docusign in a research report on Wednesday, December 17th. Finally, UBS Group cut their price target on Docusign from $75.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Five equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $66.67.

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.