Hsbc Holdings PLC Cuts Holdings in Docusign Inc. $DOCU

Hsbc Holdings PLC trimmed its position in Docusign Inc. (NASDAQ:DOCU) by 67.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 148,838 shares of the company’s stock after selling 307,018 shares during the period. Hsbc Holdings PLC’s holdings in Docusign were worth $7,093,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Docusign by 0.9% during the 4th quarter. State Street Corp now owns 8,193,805 shares of the company’s stock worth $560,456,000 after buying an additional 77,008 shares in the last quarter. Capital World Investors grew its holdings in shares of Docusign by 38.1% in the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after acquiring an additional 1,603,900 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Docusign by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company’s stock valued at $278,665,000 after acquiring an additional 18,873 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Docusign by 8.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,343,613 shares of the company’s stock valued at $228,703,000 after acquiring an additional 251,639 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Docusign by 46.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,001,132 shares of the company’s stock valued at $205,277,000 after acquiring an additional 946,512 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on DOCU shares. Wall Street Zen cut Docusign from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a research report on Friday, June 5th. Bank of America started coverage on Docusign in a research note on Tuesday, March 31st. They set an “underperform” rating and a $52.00 target price on the stock. Wedbush cut their price target on shares of Docusign from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. Finally, BTIG Research reduced their price target on shares of Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, June 5th. 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 company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.27.

Docusign Trading Down 1.8%

Docusign stock opened at $47.04 on Friday. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65. The business’s 50 day simple moving average is $47.78 and its 200 day simple moving average is $48.87. The company has a market cap of $8.98 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 1.41 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last released its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, topping 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 period last year, the business posted $0.90 earnings per share. As a group, equities research analysts forecast that Docusign Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Docusign news, insider Robert Chatwani sold 15,902 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $43.01, for a total transaction of $683,945.02. Following the sale, the insider directly owned 72,805 shares of the company’s stock, valued at $3,131,343.05. This represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Blake Jeffrey Grayson sold 15,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $45.55, for a total transaction of $683,250.00. Following the transaction, the chief financial officer owned 141,429 shares of the company’s stock, valued at $6,442,090.95. This represents a 9.59% 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. Insiders have sold a total of 76,695 shares of company stock worth $3,476,002 in the last quarter. 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.