UMB Bank n.a. Raises Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

UMB Bank n.a. grew its position in DocuSign, Inc. (NASDAQ:DOCU) by 114.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,995 shares of the company’s stock after purchasing an additional 1,065 shares during the period. UMB Bank n.a.’s holdings in DocuSign were worth $162,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DOCU. Gilman Hill Asset Management LLC lifted its holdings in DocuSign by 4.9% in the first quarter. Gilman Hill Asset Management LLC now owns 84,326 shares of the company’s stock valued at $6,864,000 after acquiring an additional 3,904 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of DocuSign by 118.8% in the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock valued at $54,695,000 after purchasing an additional 330,136 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of DocuSign by 3,026.7% in the 4th quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock valued at $49,179,000 after purchasing an additional 529,308 shares during the last quarter. Amundi grew its holdings in shares of DocuSign by 565.8% during the 4th quarter. Amundi now owns 1,379,575 shares of the company’s stock worth $123,486,000 after purchasing an additional 1,172,368 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of DocuSign during the 4th quarter worth about $882,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

Insider Transactions at DocuSign

In other news, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $81.31, for a total value of $609,825.00. Following the sale, the insider now directly owns 45,875 shares in the company, valued at approximately $3,730,096.25. This trade represents a 14.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of DocuSign stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the sale, the chief financial officer now directly owns 93,960 shares of the company’s stock, valued at approximately $7,817,472. This trade represents a 14.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,851 shares of company stock valued at $3,912,239. 1.01% of the stock is currently owned by corporate insiders.

DocuSign Trading Down 1.0%

DocuSign stock opened at $76.24 on Thursday. The firm has a market capitalization of $15.44 billion, a P/E ratio of 15.72, a P/E/G ratio of 6.94 and a beta of 1.14. DocuSign, Inc. has a twelve month low of $48.80 and a twelve month high of $107.86. The stock’s fifty day simple moving average is $82.06 and its 200-day simple moving average is $86.15.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, June 5th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.81 by $0.09. The firm had revenue of $763.65 million during the quarter, compared to analysts’ expectations of $748.79 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 EPS. Sell-side analysts predict that DocuSign, Inc. will post 1.17 earnings per share for the current year.

DocuSign announced that its board has authorized a share buyback plan on Thursday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have commented on DOCU. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research report on Friday, June 6th. Citigroup decreased their price objective on shares of DocuSign from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday. UBS Group dropped their target price on shares of DocuSign from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, June 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 target price on shares of DocuSign in a research report on Friday, March 14th. Finally, HSBC upgraded DocuSign from a “reduce” rating to a “hold” rating and set a $70.00 price target on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, DocuSign currently has a consensus rating of “Hold” and an average target price of $88.77.

DocuSign Company 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.