Louisiana State Employees Retirement System Makes New $2.75 Million Investment in Docusign Inc. $DOCU

Louisiana State Employees Retirement System bought a new position in shares of Docusign Inc. (NASDAQ:DOCU) during the first quarter, HoldingsChannel.com reports. The firm bought 58,100 shares of the company’s stock, valued at approximately $2,755,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division acquired a new stake in shares of Docusign in the fourth quarter valued at $25,000. Modus Advisors LLC acquired a new position in Docusign during the 4th quarter worth $27,000. Torren Management LLC purchased a new stake in Docusign during the 4th quarter worth about $28,000. Aventura Private Wealth LLC purchased a new stake in Docusign during the 4th quarter worth about $30,000. Finally, True Wealth Design LLC raised its position in Docusign by 105.2% in the 4th quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after purchasing an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insider Transactions at Docusign

In other Docusign news, Director Mary Agnes Wilderotter sold 3,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were 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 in the company, valued at approximately $2,879,514.45. The trade was a 4.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James P. Shaughnessy sold 12,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $46.83, for a total transaction of $561,960.00. Following the sale, the insider directly owned 53,631 shares in the company, valued at approximately $2,511,539.73. This represents a 18.28% 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. Over the last 90 days, insiders sold 64,695 shares of company stock valued at $3,006,682. 0.59% of the stock is owned by company insiders.

Analysts Set New Price Targets

DOCU has been the subject of a number of analyst reports. Wedbush lowered their price objective on Docusign from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. Weiss Ratings downgraded shares of Docusign from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Wells Fargo & Company lowered their price target on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company 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 on the stock in a research report on Wednesday, March 18th. Finally, Morgan Stanley reduced their price objective on shares of Docusign from $90.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 18th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Docusign presently has a consensus rating of “Hold” and a consensus target price of $60.27.

Docusign Trading Up 0.2%

Shares of DOCU opened at $45.31 on Monday. The company’s 50 day simple moving average is $47.01 and its 200-day simple moving average is $51.62. The firm has a market cap of $8.65 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 1.37 and a beta of 0.92. Docusign Inc. has a 12-month low of $40.16 and a 12-month 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, beating the consensus estimate of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm had revenue of $830.24 million for the quarter, compared to analysts’ expectations of $824.71 million. During the same quarter in the previous year, the firm posted $0.90 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities research analysts forecast that Docusign Inc. will post 1.97 EPS for the current fiscal year.

Docusign announced that its board has approved a stock repurchase plan on Tuesday, March 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to reacquire up to 21% of its stock through open market purchases. Stock repurchase plans are generally a sign 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.