Docusign Inc. $DOCU Shares Sold by Andra AP fonden

Andra AP fonden lessened its holdings in Docusign Inc. (NASDAQ:DOCU) by 35.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 313,900 shares of the company’s stock after selling 171,000 shares during the period. Andra AP fonden’s holdings in Docusign were worth $21,471,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DOCU. NewEdge Advisors LLC lifted its stake in Docusign by 36.4% during the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock worth $749,000 after acquiring an additional 2,457 shares in the last quarter. Guggenheim Capital LLC increased its holdings in shares of Docusign by 6.7% in the 2nd quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock valued at $899,000 after acquiring an additional 729 shares during the last quarter. State Street Corp increased its holdings in shares of Docusign by 3.0% in the 2nd quarter. State Street Corp now owns 8,074,976 shares of the company’s stock valued at $628,960,000 after acquiring an additional 236,494 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Docusign by 60.7% in the 2nd quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock valued at $3,146,000 after acquiring an additional 15,247 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Docusign by 51.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock valued at $14,735,000 after acquiring an additional 63,911 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on DOCU shares. Piper Sandler dropped their price target on Docusign from $75.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Wedbush lowered their target price on Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. HSBC set a $53.00 price target on Docusign in a report on Friday, February 13th. Citizens Jmp reduced their price objective on Docusign from $124.00 to $86.00 and set a “market outperform” rating for the company in a report on Wednesday, March 18th. Finally, Morgan Stanley reduced their price objective on Docusign from $90.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, March 18th. Three analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Docusign presently has a consensus rating of “Hold” and an average price target of $60.27.

Docusign Stock Down 1.3%

Shares of NASDAQ:DOCU opened at $44.55 on Friday. The company has a market cap of $8.51 billion, a P/E ratio of 28.93, a P/E/G ratio of 1.37 and a beta of 0.92. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $86.65. The business has a fifty day simple moving average of $47.63 and a 200-day simple moving average of $53.53.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. The business had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 earnings per share. Sell-side analysts expect that Docusign Inc. will post 1.97 earnings per share for the current fiscal year.

Docusign announced that its Board of Directors has approved a share buyback plan on Tuesday, March 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 21% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $47.78, for a total value of $1,254,225.00. Following the completion of the sale, the chief executive officer owned 152,237 shares of the company’s stock, valued at $7,273,883.86. The trade was a 14.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 16,696 shares of Docusign stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $48.10, for a total value of $803,077.60. Following the completion of the sale, the insider directly owned 72,458 shares of the company’s stock, valued at approximately $3,485,229.80. This represents a 18.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 65,489 shares of company stock valued at $3,125,814. 0.59% of the stock is currently owned by company insiders.

Docusign Company 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.