Docusign Inc. $DOCU Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its position in shares of Docusign Inc. (NASDAQ:DOCU) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 544,473 shares of the company’s stock after buying an additional 25,367 shares during the period. Retirement Systems of Alabama owned 0.27% of Docusign worth $37,242,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in DOCU. Nordea Investment Management AB raised its stake in Docusign by 3.6% in the 3rd quarter. Nordea Investment Management AB now owns 1,154,824 shares of the company’s stock valued at $87,316,000 after purchasing an additional 40,432 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Docusign by 927.2% in the 2nd quarter. Baird Financial Group Inc. now owns 124,145 shares of the company’s stock valued at $9,670,000 after purchasing an additional 112,059 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in Docusign during the 3rd quarter worth $5,335,000. Bank of New York Mellon Corp boosted its stake in Docusign by 3.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,594,884 shares of the company’s stock worth $114,975,000 after purchasing an additional 47,331 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Docusign by 101.0% during the third quarter. Federated Hermes Inc. now owns 230,524 shares of the company’s stock worth $16,618,000 after buying an additional 115,829 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

Docusign Stock Up 0.3%

NASDAQ DOCU opened at $47.41 on Wednesday. Docusign Inc. has a 52 week low of $40.16 and a 52 week high of $94.67. The business’s fifty day simple moving average is $47.92 and its 200-day simple moving average is $62.27. The firm has a market cap of $9.22 billion, a PE ratio of 32.03, a P/E/G ratio of 1.92 and a beta of 1.03.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings results on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $828.23 million. During the same quarter in the previous year, the company posted $0.86 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Research analysts expect that Docusign Inc. will post 1.17 EPS for the current year.

Docusign declared that its Board of Directors has authorized a stock repurchase program on Tuesday, March 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase up to 21% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DOCU shares. Cantor Fitzgerald reiterated an “outperform” rating on shares of Docusign in a research report on Wednesday, December 17th. UBS Group lowered their price target on shares of Docusign from $75.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. JPMorgan Chase & Co. cut 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. Citizens Jmp decreased their target price on shares of Docusign from $124.00 to $86.00 and set a “market outperform” rating on the stock in a research note on Wednesday, March 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Docusign in a research note on Tuesday, March 10th. Five analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Docusign presently has a consensus rating of “Hold” and a consensus target price of $64.67.

Insider Buying and Selling

In other news, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $67.05, for a total transaction of $402,300.00. Following the completion of the sale, the executive owned 68,970 shares in the company, valued at $4,624,438.50. This trade represents a 8.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Chatwani sold 16,696 shares of Docusign stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $48.10, for a total transaction of $803,077.60. Following the sale, the insider directly owned 72,458 shares in the company, valued at approximately $3,485,229.80. The trade was a 18.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 68,173 shares of company stock worth $4,324,684 over the last ninety days. 1.66% of the stock is currently owned by insiders.

About Docusign

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.