Swiss Life Asset Management Ltd cut its stake in Docusign Inc. (NASDAQ:DOCU – Free Report) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,709 shares of the company’s stock after selling 11,690 shares during the period. Swiss Life Asset Management Ltd’s holdings in Docusign were worth $2,716,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division bought a new stake in Docusign during the fourth quarter worth approximately $25,000. Torren Management LLC bought a new stake in Docusign during the fourth quarter worth approximately $28,000. True Wealth Design LLC boosted its holdings in Docusign by 105.2% during the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $30,000 after buying an additional 222 shares in the last quarter. Aventura Private Wealth LLC bought a new stake in Docusign during the fourth quarter worth approximately $30,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Docusign during the fourth quarter worth approximately $44,000. 77.64% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently weighed in on DOCU. HSBC set a $53.00 target price on shares of Docusign in a report on Friday, February 13th. BTIG Research restated a “buy” rating and set a $70.00 target price on shares of Docusign in a report on Wednesday, March 18th. Robert W. Baird reduced their target price on shares of Docusign from $75.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Bank of America began coverage on shares of Docusign in a report on Tuesday, March 31st. They set an “underperform” rating and a $52.00 target price for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Docusign in a report on Tuesday, March 10th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $61.40.
Insider Transactions at Docusign
In other Docusign news, insider James P. Shaughnessy sold 12,000 shares of Docusign stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $46.83, for a total transaction of $561,960.00. Following the completion of the sale, the insider owned 53,631 shares of the company’s stock, valued at $2,511,539.73. This trade represents a 18.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary Agnes Wilderotter sold 3,000 shares of Docusign stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $48.15, for a total transaction of $144,450.00. Following the sale, the director directly owned 59,803 shares of the company’s stock, valued at $2,879,514.45. This trade represents a 4.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 64,673 shares of company stock worth $3,077,699. 1.01% of the stock is currently owned by insiders.
Docusign Stock Performance
Docusign stock opened at $45.50 on Friday. The company has a 50 day moving average price of $46.86 and a 200 day moving average price of $56.28. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $94.67. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of 30.74, a P/E/G ratio of 1.72 and a beta of 0.88.
Docusign (NASDAQ:DOCU – Get Free Report) last posted its quarterly earnings data on Tuesday, March 17th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The firm had revenue of $836.86 million during the quarter, compared to analyst estimates of $828.23 million. During the same quarter last year, the business posted $0.86 EPS. The company’s revenue was up 7.8% on a year-over-year basis. Equities analysts forecast that Docusign Inc. will post 1.76 earnings per share for the current fiscal year.
Docusign announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to buy up to 21% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
Docusign Profile
DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.
DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.
Featured Stories
- Five stocks we like better than Docusign
- YETI Rallies After Earnings Beat and Raised Outlook
- How the 3 Leading Quantum Firms Stack Up After Q1 Earnings
- Cisco’s Vertical Rally May Still Be in the Early Innings
- Amazon vs. Alibaba: One Is Clearly The Better Value Play right Now
Receive News & Ratings for Docusign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Docusign and related companies with MarketBeat.com's FREE daily email newsletter.
