Strategic Global Advisors LLC Purchases Shares of 33,026 Docusign Inc. $DOCU

Strategic Global Advisors LLC purchased a new stake in shares of Docusign Inc. (NASDAQ:DOCU) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 33,026 shares of the company’s stock, valued at approximately $2,259,000.

A number of other institutional investors have also made changes to their positions in DOCU. Norges Bank acquired a new stake in shares of Docusign during the fourth quarter valued at about $186,795,000. Capital World Investors increased its position in shares of Docusign by 38.1% during the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after acquiring an additional 1,603,900 shares during the last quarter. Woodline Partners LP increased its position in shares of Docusign by 24,412.7% during the third quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock valued at $69,130,000 after acquiring an additional 955,026 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Docusign by 46.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,001,132 shares of the company’s stock valued at $205,277,000 after acquiring an additional 946,512 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Docusign by 1,575.5% during the fourth quarter. Marshall Wace LLP now owns 888,411 shares of the company’s stock valued at $60,767,000 after acquiring an additional 835,388 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $47.78, for a total value of $1,254,225.00. Following the completion of the transaction, the chief executive officer owned 152,237 shares in the company, valued at $7,273,883.86. The trade was a 14.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of Docusign stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.83, for a total transaction of $561,960.00. Following the completion of the transaction, the insider owned 53,631 shares of the company’s stock, valued at $2,511,539.73. This represents a 18.28% 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 65,489 shares of company stock valued at $3,125,814 over the last ninety days. 0.59% of the stock is currently owned by corporate insiders.

Docusign Stock Performance

Shares of DOCU stock opened at $45.03 on Monday. The stock has a market capitalization of $8.60 billion, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. The company has a 50 day moving average price of $47.56 and a 200 day moving average price of $53.38. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two 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 (EPS) 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 company had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts forecast that Docusign Inc. will post 1.97 EPS for the current fiscal year.

Docusign declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to reacquire up to 21% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group set a $60.00 price objective on shares of Docusign in a report on Friday, June 5th. Jefferies Financial Group lifted their price objective on shares of Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday, June 5th. Citizens Jmp dropped their price objective on shares of Docusign from $124.00 to $86.00 and set a “market outperform” rating for the company in a report on Wednesday, March 18th. Royal Bank Of Canada dropped 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. Finally, Wall Street Zen upgraded shares of Docusign from a “buy” rating to a “strong-buy” rating in a report on Saturday. Three equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.