Docusign Inc. $DOCU Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its stake in shares of Docusign Inc. (NASDAQ:DOCU) by 69.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,127 shares of the company’s stock after selling 76,674 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Docusign were worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its stake in shares of Docusign by 8.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,169 shares of the company’s stock worth $166,000 after buying an additional 165 shares in the last quarter. Centaurus Financial Inc. boosted its stake in Docusign by 3.4% during the third quarter. Centaurus Financial Inc. now owns 5,582 shares of the company’s stock valued at $402,000 after buying an additional 184 shares in the last quarter. True Wealth Design LLC boosted its stake 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 buying an additional 222 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in Docusign by 2.4% during the fourth quarter. Sanctuary Advisors LLC now owns 9,685 shares of the company’s stock worth $662,000 after acquiring an additional 231 shares during the period. Finally, Chicago Partners Investment Group LLC raised its position in Docusign by 3.4% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,463 shares of the company’s stock worth $510,000 after acquiring an additional 246 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Docusign Price Performance

Shares of Docusign stock opened at $45.77 on Monday. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $86.65. The firm has a fifty day moving average price of $46.86 and a two-hundred day moving average price of $50.77. The company has a market cap of $8.74 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 1.35 and a beta of 0.90.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.10. The company had revenue of $830.24 million for the quarter, compared to the consensus estimate of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 EPS. Analysts expect that Docusign Inc. will post 2.03 earnings per share for the current fiscal year.

Docusign declared that its board has approved a share repurchase program on Tuesday, March 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 21% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

DOCU has been the subject of a number of research analyst reports. Piper Sandler cut their price target on shares of Docusign from $75.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Wells Fargo & Company dropped their target price on shares of Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, June 5th. Wall Street Zen upgraded Docusign from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Citigroup raised their target price on shares of Docusign from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, June 5th. Finally, BTIG Research lowered their price objective on shares of Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.27.

Insider Transactions at Docusign

In other Docusign news, CFO Blake Jeffrey Grayson sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $45.55, for a total value of $683,250.00. Following the completion of the sale, the chief financial officer owned 141,429 shares in the company, valued at approximately $6,442,090.95. This trade represents a 9.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 15,902 shares of Docusign stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $43.01, for a total value of $683,945.02. Following the sale, the insider directly owned 72,805 shares in the company, valued at $3,131,343.05. The trade was a 17.93% 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. Over the last 90 days, insiders have sold 76,695 shares of company stock worth $3,476,002. 0.59% of the stock is currently owned by company insiders.

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.