Swedbank AB Cuts Stock Holdings in Docusign Inc. $DOCU

Swedbank AB decreased its holdings in shares of Docusign Inc. (NASDAQ:DOCU) by 44.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,588 shares of the company’s stock after selling 57,771 shares during the quarter. Swedbank AB’s holdings in Docusign were worth $5,033,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in Docusign by 3.1% in 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 buying an additional 47,331 shares during the last quarter. Federated Hermes Inc. lifted its position in Docusign by 101.0% in the 3rd 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 during the last quarter. Nordea Investment Management AB lifted its position in Docusign by 3.8% in the 4th quarter. Nordea Investment Management AB now owns 1,198,634 shares of the company’s stock worth $82,502,000 after buying an additional 43,810 shares during the last quarter. Step Capital Management Pte. Ltd. bought a new stake in Docusign in the 4th quarter worth approximately $2,052,000. Finally, Retirement Systems of Alabama lifted its position in Docusign by 4.9% in the 4th quarter. Retirement Systems of Alabama now owns 544,473 shares of the company’s stock worth $37,242,000 after buying an additional 25,367 shares during the last quarter. Institutional investors own 77.64% of the company’s stock.

Docusign Stock Performance

Shares of DOCU stock opened at $49.32 on Wednesday. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $94.67. The stock has a 50 day moving average price of $47.08 and a two-hundred day moving average price of $55.03. The company has a market capitalization of $9.58 billion, a P/E ratio of 33.32, a PEG ratio of 1.89 and a beta of 0.88.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data 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 return on equity of 16.86% and a net margin of 9.60%.The firm had revenue of $836.86 million during the quarter, compared to the consensus estimate of $828.23 million. During the same quarter in the previous year, the company posted $0.86 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts predict that Docusign Inc. will post 1.76 earnings per share for the current year.

Docusign declared that its board has initiated a stock buyback plan on Tuesday, March 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 21% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Docusign

In other Docusign news, insider Robert Chatwani sold 16,696 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $48.10, for a total value of $803,077.60. Following the completion of the sale, the insider owned 72,458 shares in the company, valued at approximately $3,485,229.80. The trade was a 18.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 26,250 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 64,673 shares of company stock valued at $3,077,699. Insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DOCU shares. JPMorgan Chase & Co. dropped their target price on Docusign from $78.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. UBS Group dropped their target price on Docusign from $75.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Piper Sandler dropped their target price on Docusign from $75.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Morgan Stanley dropped their target price on Docusign from $90.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 18th. Finally, Citigroup downgraded Docusign from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $99.00 to $50.00 in a research report on Friday, April 10th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Docusign currently has a consensus rating of “Hold” and a consensus target price of $61.40.

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.