Los Angeles Capital Management LLC Makes New Investment in Docusign Inc. $DOCU

Los Angeles Capital Management LLC purchased a new position in shares of Docusign Inc. (NASDAQ:DOCU) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 24,444 shares of the company’s stock, valued at approximately $1,750,000.

Several other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB boosted its position in Docusign by 3.8% during the fourth 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 during the period. Step Capital Management Pte. Ltd. bought a new position in shares of Docusign in the fourth quarter valued at approximately $2,052,000. Retirement Systems of Alabama lifted its stake in shares of 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. Envestnet Asset Management Inc. lifted its stake in shares of Docusign by 11.1% in the third quarter. Envestnet Asset Management Inc. now owns 312,859 shares of the company’s stock worth $22,554,000 after buying an additional 31,334 shares during the last quarter. Finally, South Dakota Investment Council boosted its holdings in shares of Docusign by 140.6% during the 3rd quarter. South Dakota Investment Council now owns 53,373 shares of the company’s stock worth $3,848,000 after buying an additional 31,192 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on DOCU shares. UBS Group set a $60.00 target price on shares of Docusign in a report on Friday, June 5th. Wedbush decreased their price target on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Jefferies Financial Group lifted their price objective on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, June 5th. Citigroup boosted their price objective on Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. Finally, Wells Fargo & Company decreased their target price on Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.27.

Insiders Place Their Bets

In other Docusign news, insider Robert Chatwani sold 16,696 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $48.10, for a total value of $803,077.60. Following the completion of the transaction, the insider owned 72,458 shares of the company’s stock, valued at $3,485,229.80. This represents a 18.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total value of $281,040.00. Following the completion of the sale, the executive owned 79,233 shares of the company’s stock, valued at $3,711,273.72. This represents a 7.04% decrease in their position. The SEC filing for this sale provides additional information. 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 in the last quarter. 0.59% of the stock is currently owned by insiders.

Docusign Price Performance

NASDAQ:DOCU opened at $45.13 on Thursday. Docusign Inc. has a one year low of $40.16 and a one year high of $86.65. The company has a fifty day moving average price of $47.68 and a 200 day moving average price of $53.68. The stock has a market cap of $8.62 billion, a P/E ratio of 29.31, a PEG ratio of 1.53 and a beta of 0.92.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $824.71 million. During the same period last year, the business posted $0.90 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts anticipate that Docusign Inc. will post 1.76 EPS for the current year.

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

Docusign Company 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.