Northwestern Mutual Wealth Management Co. Acquires 13,850 Shares of Docusign Inc. $DOCU

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Docusign Inc. (NASDAQ:DOCU) by 113.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 26,064 shares of the company’s stock after purchasing an additional 13,850 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Docusign were worth $1,897,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. lifted its holdings in Docusign by 29.7% during the fourth quarter. Pinnacle Associates Ltd. now owns 4,790 shares of the company’s stock worth $328,000 after acquiring an additional 1,097 shares in the last quarter. Allworth Financial LP lifted its holdings in Docusign by 22.8% during the fourth quarter. Allworth Financial LP now owns 9,511 shares of the company’s stock worth $651,000 after acquiring an additional 1,763 shares in the last quarter. Ameritas Advisory Services LLC lifted its holdings in Docusign by 4,165.0% during the fourth quarter. Ameritas Advisory Services LLC now owns 6,099 shares of the company’s stock worth $417,000 after acquiring an additional 5,956 shares in the last quarter. Ground Swell Capital LLC bought a new position in Docusign during the fourth quarter worth about $402,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in Docusign by 18.2% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 305,315 shares of the company’s stock worth $20,884,000 after acquiring an additional 47,000 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Docusign

In related news, CRO Paula Hansen sold 6,000 shares of the company’s stock in a transaction dated 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 owned 79,233 shares in the company, valued at approximately $3,711,273.72. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $48.15, for a total value of $144,450.00. Following the sale, the director owned 59,803 shares in the company, valued at $2,879,514.45. The trade was a 4.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 64,673 shares of company stock valued at $3,077,699 in the last ninety days. Insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

DOCU has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a report on Tuesday, March 10th. Royal Bank Of Canada cut their price target on Docusign from $70.00 to $55.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 18th. UBS Group cut their price target on Docusign from $75.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. BTIG Research restated a “buy” rating and issued a $70.00 price target on shares of Docusign in a report on Wednesday, March 18th. Finally, HSBC set a $53.00 price target on Docusign in a report on Friday, February 13th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Docusign currently has a consensus rating of “Hold” and an average target price of $61.40.

Docusign Stock Performance

DOCU opened at $48.43 on Thursday. 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 $9.41 billion, a PE ratio of 32.72, a PEG ratio of 1.88 and a beta of 0.88. The business’s 50-day simple moving average is $47.12 and its 200 day simple moving average is $54.88.

Docusign (NASDAQ:DOCU) last released its earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.06. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The business had revenue of $836.86 million for the quarter, compared to analyst estimates of $828.23 million. During the same quarter in the prior year, the company posted $0.86 earnings per share. Docusign’s revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that Docusign Inc. will post 1.76 earnings per share for the current year.

Docusign announced that its board has initiated a stock repurchase program on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 21% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board 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.