DocuSign, Inc. (NASDAQ:DOCU) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 69.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,900 shares of the company’s stock after selling 83,011 shares during the period. Handelsbanken Fonder AB’s holdings in DocuSign were worth $2,134,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DOCU. AQR Capital Management LLC lifted its position in DocuSign by 147.4% during the third quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company’s stock valued at $80,157,000 after buying an additional 1,136,948 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of DocuSign by 166.4% during the third quarter. Jupiter Asset Management Ltd. now owns 1,344,703 shares of the company’s stock valued at $56,478,000 after purchasing an additional 839,883 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of DocuSign by 77.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,215,650 shares of the company’s stock valued at $51,057,000 after purchasing an additional 531,682 shares during the period. International Assets Investment Management LLC raised its stake in shares of DocuSign by 4,438.8% during the fourth quarter. International Assets Investment Management LLC now owns 521,912 shares of the company’s stock valued at $31,028,000 after purchasing an additional 510,413 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of DocuSign by 2.4% during the third quarter. Vanguard Group Inc. now owns 20,982,387 shares of the company’s stock valued at $881,260,000 after purchasing an additional 482,472 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $59.00 price objective on shares of DocuSign in a research note on Friday, April 12th. UBS Group upgraded shares of DocuSign from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $48.00 to $62.00 in a research note on Friday, April 12th. Wells Fargo & Company dropped their price target on shares of DocuSign from $55.00 to $45.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. Morgan Stanley upgraded shares of DocuSign from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $49.00 to $64.00 in a research note on Tuesday, January 16th. Finally, Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.25.

DocuSign Stock Performance

DocuSign stock opened at $57.20 on Friday. The company has a 50-day simple moving average of $56.49 and a 200-day simple moving average of $52.65. The firm has a market capitalization of $11.75 billion, a P/E ratio of 158.89, a P/E/G ratio of 5.01 and a beta of 0.89. DocuSign, Inc. has a one year low of $38.11 and a one year high of $64.76.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06. The business had revenue of $712.39 million during the quarter, compared to analyst estimates of $698.05 million. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. As a group, sell-side analysts forecast that DocuSign, Inc. will post 0.86 earnings per share for the current year.

Insider Transactions at DocuSign

In other news, Director Peter Solvik sold 15,000 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. Following the completion of the transaction, the director now owns 783 shares in the company, valued at $46,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Peter Solvik sold 15,000 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the transaction, the director now owns 783 shares in the company, valued at approximately $46,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allan C. Thygesen sold 7,680 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $61.27, for a total transaction of $470,553.60. Following the completion of the transaction, the chief executive officer now owns 111,767 shares of the company’s stock, valued at approximately $6,847,964.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,871 shares of company stock worth $3,176,199. Insiders own 17.80% of the company’s stock.

DocuSign Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.