Swiss National Bank Lowers Stake in Docusign Inc. $DOCU

Swiss National Bank lessened its holdings in Docusign Inc. (NASDAQ:DOCU) by 28.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 396,200 shares of the company’s stock after selling 154,500 shares during the quarter. Swiss National Bank’s holdings in Docusign were worth $18,784,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Kera Capital Partners Inc. grew its holdings in Docusign by 12.1% during the 1st quarter. Kera Capital Partners Inc. now owns 18,559 shares of the company’s stock valued at $880,000 after buying an additional 2,003 shares in the last quarter. Assetmark Inc. increased its position in Docusign by 2.2% in the first quarter. Assetmark Inc. now owns 202,890 shares of the company’s stock worth $9,619,000 after purchasing an additional 4,463 shares during the last quarter. PeakShares LLC purchased a new stake in Docusign during the first quarter valued at $119,000. Aware Super Pty Ltd as trustee of Aware Super bought a new stake in Docusign during the first quarter worth approximately $11,532,000. Finally, Illinois Municipal Retirement Fund raised its holdings in Docusign by 2.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 187,093 shares of the company’s stock valued at $8,870,000 after buying an additional 4,960 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Trading Up 7.2%

NASDAQ DOCU opened at $50.44 on Friday. The company has a fifty day simple moving average of $47.83 and a two-hundred day simple moving average of $48.89. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.65. The stock has a market cap of $9.63 billion, a P/E ratio of 32.75, a P/E/G ratio of 1.39 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. The business had revenue of $830.24 million for 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 company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, sell-side analysts forecast that Docusign Inc. will post 2.03 earnings per share for the current year.

Analyst Ratings Changes

DOCU has been the subject of several recent analyst reports. Wells Fargo & Company dropped their target price on Docusign from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, June 5th. UBS Group set a $60.00 target price on shares of Docusign in a research note on Friday, June 5th. Jefferies Financial Group increased their price target on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, June 5th. Needham & Company LLC restated a “hold” rating on shares of Docusign in a report on Friday, June 5th. Finally, Citigroup lifted their price objective on shares of Docusign from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Docusign presently has an average rating of “Hold” and an average target price of $60.27.

Insider Activity at Docusign

In other news, insider James P. Shaughnessy sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $45.54, for a total transaction of $546,480.00. Following the sale, the insider owned 52,815 shares of the company’s stock, valued at $2,405,195.10. This trade represents a 18.51% decrease in their position. The sale 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 Docusign stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $45.55, for a total transaction of $683,250.00. Following the completion of the transaction, the chief financial officer directly owned 141,429 shares of the company’s stock, valued at $6,442,090.95. The trade was a 9.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 76,695 shares of company stock worth $3,476,002 in the last three months. Company insiders own 0.59% of the company’s stock.

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.