Hillsdale Investment Management Inc. Takes Position in Docusign Inc. $DOCU

Hillsdale Investment Management Inc. acquired a new stake in Docusign Inc. (NASDAQ:DOCU) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 12,900 shares of the company’s stock, valued at approximately $882,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Docusign by 15.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,229 shares of the company’s stock worth $89,000 after buying an additional 161 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Docusign by 8.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock worth $166,000 after buying an additional 165 shares during the period. Centaurus Financial Inc. boosted its holdings in shares of Docusign by 3.4% during the 3rd quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock worth $402,000 after buying an additional 184 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of Docusign by 12.1% during the 3rd quarter. Clearstead Advisors LLC now owns 1,872 shares of the company’s stock worth $135,000 after buying an additional 202 shares during the period. Finally, Linden Thomas Advisory Services LLC boosted its holdings in shares of Docusign by 1.6% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 14,198 shares of the company’s stock worth $1,024,000 after buying an additional 220 shares during the period. Institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

DOCU has been the subject of several research analyst reports. UBS Group reduced their target price on shares of Docusign from $75.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a report on Tuesday, March 10th. Weiss Ratings downgraded shares of Docusign from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 15th. HSBC set a $53.00 price objective on shares of Docusign in a report on Friday, February 13th. Finally, BTIG Research reissued a “buy” rating and issued a $70.00 price objective on shares of Docusign in a report on Wednesday, March 18th. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.40.

Insider Activity at Docusign

In other news, insider James P. Shaughnessy sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $46.83, for a total transaction of $561,960.00. Following the completion of the sale, the insider owned 53,631 shares of the company’s stock, valued at approximately $2,511,539.73. This represents a 18.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary Agnes Wilderotter sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $48.15, for a total transaction of $144,450.00. Following the sale, the director directly owned 59,803 shares of the company’s stock, valued at approximately $2,879,514.45. This trade represents a 4.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 64,309 shares of company stock worth $3,061,570 in the last 90 days. Corporate insiders own 0.59% of the company’s stock.

Docusign Trading Up 8.6%

Shares of Docusign stock opened at $57.02 on Tuesday. The company has a 50 day moving average of $47.41 and a 200-day moving average of $54.53. Docusign Inc. has a 1-year low of $40.16 and a 1-year high of $94.67. The company has a market cap of $11.08 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 2.01 and a beta of 0.88.

Docusign (NASDAQ:DOCU) last issued its quarterly 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 net margin of 9.60% and a return on equity of 16.86%. The company had revenue of $836.86 million during the quarter, compared to the consensus estimate of $828.23 million. During the same quarter in the prior year, the firm posted $0.86 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts forecast that Docusign Inc. will post 1.75 earnings per share for the current year.

Docusign declared that its board has initiated a share buyback program on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 21% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors 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.