Allspring Global Investments Holdings LLC Has $6.39 Million Stock Holdings in Docusign Inc. (NASDAQ:DOCU)

Allspring Global Investments Holdings LLC lowered its position in shares of Docusign Inc. (NASDAQ:DOCU) by 23.3% in the first quarter, HoldingsChannel reports. The fund owned 77,267 shares of the company’s stock after selling 23,528 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Docusign were worth $6,389,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of DOCU. Bessemer Group Inc. raised its holdings in shares of Docusign by 27.5% in the first quarter. Bessemer Group Inc. now owns 602 shares of the company’s stock valued at $49,000 after purchasing an additional 130 shares during the last quarter. Citizens Financial Group Inc. RI boosted its holdings in Docusign by 2.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 5,990 shares of the company’s stock worth $539,000 after purchasing an additional 133 shares during the last quarter. Rakuten Securities Inc. grew its position in Docusign by 20.9% in the fourth quarter. Rakuten Securities Inc. now owns 797 shares of the company’s stock valued at $72,000 after purchasing an additional 138 shares in the last quarter. M&T Bank Corp increased its stake in Docusign by 1.3% in the 4th quarter. M&T Bank Corp now owns 10,840 shares of the company’s stock valued at $975,000 after buying an additional 143 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in Docusign by 34.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company’s stock valued at $50,000 after buying an additional 143 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Activity at Docusign

In related news, Director Teresa Briggs sold 534 shares of Docusign stock in a transaction that occurred 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 sale, the director directly owned 8,805 shares of the company’s stock, valued at approximately $654,827.85. The trade was a 5.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert Chatwani sold 22,875 shares of the company’s stock in a transaction that occurred 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 transaction, the insider owned 72,126 shares of the company’s stock, valued at approximately $5,394,303.54. This represents a 24.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,552 shares of company stock worth $6,592,351 over the last three months. 1.01% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DOCU. Wedbush reduced their price objective on shares of Docusign from $100.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, June 12th. UBS Group reduced their price target on Docusign from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, June 6th. Bank of America decreased their price target on Docusign from $88.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, June 6th. Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a research note on Friday, June 6th. Finally, Jefferies Financial Group cut their price objective on Docusign from $115.00 to $105.00 and set a “buy” rating for the company in a report on Monday, March 31st. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $89.77.

Docusign Stock Performance

Shares of DOCU opened at $78.97 on Friday. Docusign Inc. has a 52-week low of $48.80 and a 52-week high of $107.86. The firm has a market cap of $15.96 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 29.49 and a beta of 1.08. The business’s fifty day moving average is $82.20 and its 200-day moving average is $84.50.

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

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