Kingsview Wealth Management LLC Has $216,000 Stock Position in Docusign Inc. (NASDAQ:DOCU)

Kingsview Wealth Management LLC grew its stake in Docusign Inc. (NASDAQ:DOCU) by 5.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,655 shares of the company’s stock after purchasing an additional 141 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Docusign were worth $216,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Concurrent Investment Advisors LLC acquired a new position in shares of Docusign in the 1st quarter valued at $618,000. Gilman Hill Asset Management LLC lifted its stake in shares of Docusign by 4.9% in the 1st quarter. Gilman Hill Asset Management LLC now owns 84,326 shares of the company’s stock valued at $6,864,000 after purchasing an additional 3,904 shares during the period. Paradiem LLC acquired a new position in shares of Docusign in the 1st quarter valued at $4,357,000. Wealth Enhancement Advisory Services LLC increased its stake in Docusign by 528.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 108,232 shares of the company’s stock valued at $8,810,000 after purchasing an additional 91,017 shares in the last quarter. Finally, Kentucky Retirement Systems acquired a new stake in Docusign in the first quarter worth $1,114,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Stock Up 0.0%

Shares of NASDAQ:DOCU opened at $81.41 on Thursday. Docusign Inc. has a 12-month low of $48.80 and a 12-month high of $107.86. The stock has a market cap of $16.45 billion, a PE ratio of 15.39, a P/E/G ratio of 30.37 and a beta of 1.08. The business has a 50 day moving average of $80.64 and a 200-day moving average of $83.22.

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

Docusign announced that its board has authorized a share buyback program on Thursday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Docusign

In related news, Director Teresa Briggs sold 534 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $74.37, for a total value of $39,713.58. Following the sale, the director owned 8,805 shares of the company’s stock, valued at $654,827.85. The trade was a 5.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 15,143 shares of the company’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $74.80, for a total transaction of $1,132,696.40. Following the sale, the chief financial officer directly owned 110,723 shares in the company, valued at $8,282,080.40. This trade represents a 12.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,552 shares of company stock valued at $5,983,631 over the last three months. 1.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

DOCU has been the subject of a number of recent analyst reports. Robert W. Baird lowered their price objective on shares of Docusign from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, June 6th. Bank of America cut their price objective on Docusign from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. JPMorgan Chase & Co. cut their price objective on Docusign from $81.00 to $77.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. Hsbc Global Res raised Docusign from a “moderate sell” rating to a “hold” rating in a research note on Friday, April 11th. Finally, Morgan Stanley dropped their price target on Docusign from $92.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Friday, June 6th. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $89.77.

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.