Northwestern Mutual Wealth Management Co. Has $1.90 Million Holdings in Docusign Inc. $DOCU

Northwestern Mutual Wealth Management Co. increased its stake in shares of Docusign Inc. (NASDAQ:DOCU) by 113.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,064 shares of the company’s stock after buying an additional 13,850 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Docusign were worth $1,897,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of DOCU. Woodline Partners LP lifted its position in shares of Docusign by 24,412.7% during the 3rd quarter. Woodline Partners LP now owns 958,938 shares of the company’s stock worth $69,130,000 after buying an additional 955,026 shares during the period. Alliancebernstein L.P. increased its holdings in Docusign by 132.8% during the 2nd quarter. Alliancebernstein L.P. now owns 868,531 shares of the company’s stock valued at $67,650,000 after purchasing an additional 495,380 shares in the last quarter. Andra AP fonden acquired a new stake in Docusign during the 3rd quarter valued at $34,956,000. Duquesne Family Office LLC increased its holdings in Docusign by 30.6% during the 3rd quarter. Duquesne Family Office LLC now owns 1,685,950 shares of the company’s stock valued at $121,540,000 after purchasing an additional 395,510 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in Docusign during the 3rd quarter valued at $22,018,000. Institutional investors own 77.64% of the company’s stock.

Docusign Stock Down 1.8%

Shares of Docusign stock opened at $48.43 on Thursday. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $94.67. The business has a fifty day simple moving average of $47.12 and a 200 day simple moving average of $54.88. The stock has a market cap of $9.41 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 1.88 and a beta of 0.88.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Tuesday, March 17th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The business had revenue of $836.86 million during the quarter, compared to analysts’ expectations of $828.23 million. During the same period in the previous year, the firm earned $0.86 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts expect that Docusign Inc. will post 1.76 EPS for the current fiscal year.

Docusign declared that its board has authorized a stock 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 purchase up to 21% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

DOCU has been the subject of a number of recent analyst reports. Robert W. Baird dropped their price target on Docusign from $75.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Citigroup cut Docusign from a “buy” rating to a “neutral” rating and dropped their price target for the company from $99.00 to $50.00 in a report on Friday, April 10th. Wells Fargo & Company dropped their price target on Docusign from $75.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, March 18th. Royal Bank Of Canada lowered their target price on Docusign from $70.00 to $55.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 18th. Finally, BTIG Research reissued a “buy” rating and issued a $70.00 target price on shares of Docusign in a research note on Wednesday, March 18th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Docusign presently has an average rating of “Hold” and a consensus price target of $61.40.

Insider Buying and Selling at Docusign

In related news, CEO Allan C. Thygesen sold 26,250 shares of Docusign stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $47.78, for a total transaction of $1,254,225.00. Following the completion of the sale, the chief executive officer directly owned 152,237 shares of the company’s stock, valued at $7,273,883.86. The trade was a 14.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total value of $281,040.00. Following the sale, the executive directly owned 79,233 shares of the company’s stock, valued at approximately $3,711,273.72. This trade represents a 7.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 64,673 shares of company stock valued at $3,077,699 over the last quarter. 0.59% of the stock is owned by corporate insiders.

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.