PNC Financial Services Group Inc. Has $561,000 Position in Docusign Inc. (NASDAQ:DOCU)

PNC Financial Services Group Inc. increased its holdings in shares of Docusign Inc. (NASDAQ:DOCU) by 5.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,888 shares of the company’s stock after purchasing an additional 356 shares during the period. PNC Financial Services Group Inc.’s holdings in Docusign were worth $561,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Baker Avenue Asset Management LP increased its position in Docusign by 64.7% in the 1st quarter. Baker Avenue Asset Management LP now owns 47,056 shares of the company’s stock worth $3,830,000 after buying an additional 18,481 shares during the period. MONECO Advisors LLC grew its stake in shares of Docusign by 1.7% in the first quarter. MONECO Advisors LLC now owns 17,320 shares of the company’s stock worth $1,410,000 after acquiring an additional 290 shares during the last quarter. US Bancorp DE increased its position in Docusign by 17.9% during the first quarter. US Bancorp DE now owns 4,648 shares of the company’s stock worth $378,000 after acquiring an additional 706 shares during the period. Cordatus Wealth Management LLC bought a new position in Docusign during the first quarter worth $252,000. Finally, Baader Bank Aktiengesellschaft raised its stake in Docusign by 8.9% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 6,545 shares of the company’s stock valued at $523,000 after purchasing an additional 534 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Allan C. Thygesen sold 40,000 shares of Docusign stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $77.51, for a total value of $3,100,400.00. Following the completion of the transaction, the chief executive officer directly owned 143,983 shares of the company’s stock, valued at $11,160,122.33. The trade was a 21.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Chatwani sold 22,875 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 72,126 shares in the company, valued at approximately $5,394,303.54. This trade represents a 24.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,552 shares of company stock valued at $5,983,631. Company insiders own 1.66% of the company’s stock.

Docusign Price Performance

Docusign stock opened at $68.02 on Wednesday. The firm has a market capitalization of $13.74 billion, a P/E ratio of 12.86, a P/E/G ratio of 25.06 and a beta of 1.01. The stock has a fifty day moving average price of $76.95 and a two-hundred day moving average price of $81.65. Docusign Inc. has a 52-week low of $52.04 and a 52-week high of $107.86.

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

Docusign declared that its Board of Directors has initiated a share buyback program on Thursday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

DOCU has been the topic of several research analyst reports. Bank of America decreased their price target on shares of Docusign from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, June 6th. JMP Securities reissued a “market outperform” rating and set a $124.00 target price on shares of Docusign in a research report on Tuesday, June 3rd. Wall Street Zen lowered Docusign from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a research report on Friday, June 6th. Finally, Morgan Stanley decreased their price objective on Docusign from $92.00 to $86.00 and set an “equal weight” rating on the stock in a report on Friday, June 6th. Thirteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Docusign presently has a consensus rating of “Hold” and an average target price of $89.77.

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.