Brown Advisory Inc. Invests $285,000 in Docusign Inc. (NASDAQ:DOCU)

Brown Advisory Inc. bought a new position in Docusign Inc. (NASDAQ:DOCU) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,507 shares of the company’s stock, valued at approximately $285,000.

Several other institutional investors have also recently made changes to their positions in DOCU. Golden State Wealth Management LLC raised its holdings in shares of Docusign by 519.4% in the 1st quarter. Golden State Wealth Management LLC now owns 384 shares of the company’s stock valued at $31,000 after purchasing an additional 322 shares in the last quarter. Wood Tarver Financial Group LLC purchased a new position in shares of Docusign in the 4th quarter worth approximately $37,000. MassMutual Private Wealth & Trust FSB grew its position in Docusign by 153.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company’s stock worth $37,000 after purchasing an additional 274 shares during the last quarter. McIlrath & Eck LLC grew its position in Docusign by 476.0% during the 4th quarter. McIlrath & Eck LLC now owns 432 shares of the company’s stock worth $39,000 after purchasing an additional 357 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in Docusign by 490.0% during the 4th quarter. Bessemer Group Inc. now owns 472 shares of the company’s stock worth $42,000 after purchasing an additional 392 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Insider Activity at Docusign

In other Docusign news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $74.37, for a total transaction of $39,713.58. Following the completion of the transaction, the director directly owned 8,805 shares in the company, valued at approximately $654,827.85. This represents a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 22,875 shares of the company’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $74.79, for a total transaction of $1,710,821.25. Following the sale, the insider directly owned 72,126 shares of the company’s stock, valued at $5,394,303.54. The trade was a 24.08% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,552 shares of company stock valued at $5,983,631. Insiders own 1.01% of the company’s stock.

Analysts Set New Price Targets

DOCU has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Docusign from $81.00 to $77.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $124.00 price objective on shares of Docusign in a report on Tuesday, June 3rd. Jefferies Financial Group dropped their price objective on shares of Docusign from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Robert W. Baird dropped their price objective on shares of Docusign from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. Finally, UBS Group dropped their price objective on shares of Docusign from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. Twelve investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $89.77.

Docusign Stock Performance

NASDAQ:DOCU opened at $77.14 on Thursday. The company has a fifty day moving average of $81.37 and a two-hundred day moving average of $83.58. The stock has a market capitalization of $15.59 billion, a PE ratio of 14.58, a P/E/G ratio of 28.28 and a beta of 1.08. Docusign Inc. has a fifty-two week low of $48.80 and a fifty-two week high of $107.86.

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

Docusign announced that its board has initiated a share buyback program on Thursday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Docusign Profile

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.