National Pension Service Has $4.23 Million Stock Holdings in Docusign Inc. $DOCU

National Pension Service grew its holdings in Docusign Inc. (NASDAQ:DOCU) by 184.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 61,797 shares of the company’s stock after buying an additional 40,072 shares during the quarter. National Pension Service’s holdings in Docusign were worth $4,227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new stake in shares of Docusign in the fourth quarter valued at $25,000. Torren Management LLC acquired a new stake in shares of Docusign in the fourth quarter valued at $28,000. Aventura Private Wealth LLC acquired a new stake in shares of Docusign in the fourth quarter valued at $30,000. True Wealth Design LLC increased its stake in shares of Docusign by 105.2% in the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after buying an additional 222 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its stake in shares of Docusign by 309.5% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock valued at $38,000 after buying an additional 424 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Docusign Trading Up 8.6%

Docusign stock opened at $57.02 on Tuesday. The firm has a market capitalization of $11.08 billion, a P/E ratio of 38.53, a PEG ratio of 2.01 and a beta of 0.88. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $94.67. The business has a 50-day moving average of $47.41 and a 200-day moving average of $54.53.

Docusign (NASDAQ:DOCU) last posted 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. The company had revenue of $836.86 million during the quarter, compared to analyst estimates of $828.23 million. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 EPS. Research analysts anticipate that Docusign Inc. will post 1.75 EPS for the current fiscal year.

Docusign declared that its Board of Directors has initiated a stock buyback plan 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 plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at Docusign

In other news, CRO Paula Hansen sold 6,000 shares of the business’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 completion of the transaction, the executive directly owned 79,233 shares in the company, valued at approximately $3,711,273.72. The trade was a 7.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 business’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 transaction, the director owned 59,803 shares of the company’s stock, valued at $2,879,514.45. The trade was a 4.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 64,309 shares of company stock worth $3,061,570. 0.59% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on DOCU. UBS Group lowered their price objective on Docusign from $75.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Wells Fargo & Company lowered their price objective on Docusign from $75.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 18th. Citizens Jmp lowered their price objective on Docusign from $124.00 to $86.00 and set a “market outperform” rating for the company in a research report on Wednesday, March 18th. HSBC set a $53.00 price objective on Docusign in a research report on Friday, February 13th. Finally, Weiss Ratings lowered Docusign from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 15th. Three equities research 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.40.

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.