Paradiem LLC Makes New Investment in Docusign Inc. (NASDAQ:DOCU)

Paradiem LLC bought a new position in shares of Docusign Inc. (NASDAQ:DOCU) in the first quarter, HoldingsChannel.com reports. The firm bought 53,522 shares of the company’s stock, valued at approximately $4,357,000.

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

Docusign Stock Down 0.2%

NASDAQ:DOCU opened at $75.13 on Friday. Docusign Inc. has a 12-month low of $48.80 and a 12-month high of $107.86. The firm has a market capitalization of $15.18 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 28.49 and a beta of 1.14. The firm has a 50-day moving average price of $82.23 and a 200 day moving average price of $85.85.

Docusign (NASDAQ:DOCU) last issued its earnings results on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The business had revenue of $763.65 million during the quarter, compared to analysts’ expectations of $748.79 million. During the same period in the prior year, the firm posted $0.82 EPS. Docusign’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, research analysts expect that Docusign Inc. will post 1.17 EPS for the current year.

Docusign announced that its Board of Directors has authorized a share repurchase plan on Thursday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. HSBC upgraded shares of Docusign from a “reduce” rating to a “hold” rating and set a $70.00 target price for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. cut their price objective on shares of Docusign from $81.00 to $77.00 and set a “neutral” rating for the company in a research report on Friday, June 6th. Hsbc Global Res raised shares of Docusign from a “moderate sell” rating to a “hold” rating in a research report on Friday, April 11th. UBS Group cut their price objective on shares of Docusign from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, June 6th. Finally, Citigroup cut their price target on Docusign from $115.00 to $110.00 and set a “buy” rating for the company in a report on Monday, June 9th. Twelve investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $89.77.

Insiders Place Their Bets

In other Docusign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the business’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total value of $608,720.00. Following the completion of the transaction, the chief financial officer now directly owns 86,156 shares of the company’s stock, valued at approximately $6,555,610.04. The trade was a 8.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total transaction of $609,825.00. Following the completion of the transaction, the insider now directly owns 45,875 shares of the company’s stock, valued at approximately $3,730,096.25. This represents a 14.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,052 shares of company stock worth $4,101,776 over the last three months. 1.01% of the stock is currently owned by corporate insiders.

About Docusign

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.