Norges Bank Acquires New Holdings in Docusign Inc. $DOCU

Norges Bank acquired a new stake in shares of Docusign Inc. (NASDAQ:DOCU) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,730,922 shares of the company’s stock, valued at approximately $186,795,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOCU. Central Pacific Bank Trust Division bought a new position in Docusign during the fourth quarter valued at approximately $25,000. Torren Management LLC bought a new position in Docusign during the fourth quarter valued at approximately $28,000. Aventura Private Wealth LLC bought a new position in Docusign during the fourth quarter valued at approximately $30,000. True Wealth Design LLC raised its position in Docusign by 105.2% during the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after acquiring an additional 222 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its position in Docusign by 309.5% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company’s stock valued at $38,000 after acquiring an additional 424 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 26,250 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 152,237 shares in the company, valued at approximately $7,273,883.86. This trade represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $46.83, for a total transaction of $561,960.00. Following the completion of the sale, the insider owned 53,631 shares in the company, valued at approximately $2,511,539.73. The trade was a 18.28% 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 have sold a total of 65,126 shares of company stock valued at $3,107,875 in the last 90 days. 0.59% of the stock is currently owned by corporate insiders.

Docusign Trading Down 4.9%

Shares of Docusign stock opened at $52.40 on Thursday. The company’s fifty day simple moving average is $47.64 and its 200-day simple moving average is $54.33. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 2.10 and a beta of 0.92. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $94.67.

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

Docusign announced that its board has authorized a share buyback program on Tuesday, March 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 21% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Docusign News Roundup

Here are the key news stories impacting Docusign this week:

• Positive Sentiment: Docusign announced its app is now available in ChatGPT and Codex, extending its Intelligent Agreement Management platform into OpenAI products and potentially improving adoption by making agreement workflows easier to use. Docusign Brings Trusted Agreement Intelligence and Workflows into ChatGPT and Codex
• Positive Sentiment: The company appointed Graham Sheldon as Chief Product Officer, a move aimed at accelerating its AI-focused product strategy and strengthening product execution. Docusign Appoints Graham Sheldon as Chief Product Officer to Accelerate Intelligent Agreement Management Vision
• Neutral Sentiment: Investor focus is centered on Thursday’s earnings release, where the key question is whether recent AI initiatives are driving enough momentum to support the stock. DocuSign (DOCU) Q1 Earnings Report Preview: What To Look For
• Neutral Sentiment: Multiple directors sold small amounts of stock, including Anna Marrs, James A. Beer, and Teresa Briggs, but the trades were modest and were executed under Rule 10b5-1 plans, which typically limits their significance. SEC filing: Anna Marrs Form 4
• Neutral Sentiment: Recent commentary also highlighted Docusign as an earnings-watch name, reinforcing that the stock may move on management’s outlook and proof of execution rather than the insider activity. Dear Docusign Stock Fans, Mark Your Calendars for June 4

Analyst Ratings Changes

Several brokerages recently weighed in on DOCU. HSBC set a $53.00 price objective on shares of Docusign in a research report on Friday, February 13th. Morgan Stanley cut their price objective on shares of Docusign from $90.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 18th. Weiss Ratings lowered shares of Docusign from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 15th. Robert W. Baird cut their price objective on shares of Docusign from $75.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Finally, BTIG Research reaffirmed a “buy” rating and set a $70.00 price objective on shares of Docusign in a research report on Wednesday, March 18th. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.