United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Invests $6.90 Million in Docusign Inc. $DOCU

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in Docusign Inc. (NASDAQ:DOCUFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 100,837 shares of the company’s stock, valued at approximately $6,897,000.

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in Docusign by 3.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,594,884 shares of the company’s stock valued at $114,975,000 after buying an additional 47,331 shares during the last quarter. Federated Hermes Inc. raised its holdings in Docusign by 101.0% in the 3rd quarter. Federated Hermes Inc. now owns 230,524 shares of the company’s stock valued at $16,618,000 after buying an additional 115,829 shares during the last quarter. Nordea Investment Management AB raised its holdings in Docusign by 3.8% in the 4th quarter. Nordea Investment Management AB now owns 1,198,634 shares of the company’s stock valued at $82,502,000 after buying an additional 43,810 shares during the last quarter. Step Capital Management Pte. Ltd. bought a new position in Docusign in the 4th quarter valued at approximately $2,052,000. Finally, Retirement Systems of Alabama raised its holdings in Docusign by 4.9% in the 4th quarter. Retirement Systems of Alabama now owns 544,473 shares of the company’s stock valued at $37,242,000 after buying an additional 25,367 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Analysts Set New Price Targets

DOCU has been the subject of a number of research reports. Robert W. Baird dropped their price objective 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. Wells Fargo & Company dropped their price objective on shares of Docusign from $75.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, March 18th. Citizens Jmp dropped their price objective on shares of Docusign from $124.00 to $86.00 and set a “market outperform” rating for the company in a report on Wednesday, March 18th. Royal Bank Of Canada dropped their price objective on shares of Docusign from $70.00 to $55.00 and set a “sector perform” rating for the company in a report on Wednesday, March 18th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Docusign from $78.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Docusign has a consensus rating of “Hold” and an average price target of $61.40.

Read Our Latest Report on Docusign

Insider Buying and Selling at Docusign

In other Docusign news, insider James P. Shaughnessy sold 12,000 shares of the stock in a transaction that occurred 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 approximately $2,511,539.73. This represents a 18.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total transaction of $281,040.00. Following the sale, the executive directly owned 79,233 shares of the company’s stock, valued at approximately $3,711,273.72. This trade represents a 7.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 64,309 shares of company stock worth $3,061,570. Company insiders own 0.59% of the company’s stock.

Docusign Stock Performance

NASDAQ:DOCU opened at $52.52 on Friday. The company has a market capitalization of $10.20 billion, a PE ratio of 35.49, a P/E/G ratio of 1.89 and a beta of 0.88. The company has a 50 day simple moving average of $47.23 and a two-hundred day simple moving average of $54.72. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $94.67.

Docusign (NASDAQ:DOCUGet Free Report) last released its earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $836.86 million during the quarter, compared to the consensus estimate of $828.23 million. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. Research analysts predict that Docusign Inc. will post 1.76 EPS for the current year.

Docusign announced that its Board of Directors has approved a stock repurchase program 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 programs are often an indication that the company’s leadership believes its stock is undervalued.

About Docusign

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Docusign (NASDAQ:DOCU)

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