Capital World Investors Has $397.80 Million Stake in Docusign Inc. $DOCU

Capital World Investors lifted its position in shares of Docusign Inc. (NASDAQ:DOCU) by 38.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,815,804 shares of the company’s stock after purchasing an additional 1,603,900 shares during the quarter. Capital World Investors owned 2.90% of Docusign worth $397,801,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB raised its position in shares of Docusign by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 1,198,634 shares of the company’s stock worth $82,502,000 after purchasing an additional 43,810 shares during the period. Step Capital Management Pte. Ltd. acquired a new position in shares of Docusign during the fourth quarter worth approximately $2,052,000. Retirement Systems of Alabama raised its position in shares of Docusign by 4.9% during the fourth quarter. Retirement Systems of Alabama now owns 544,473 shares of the company’s stock worth $37,242,000 after purchasing an additional 25,367 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Docusign by 11.1% during the third quarter. Envestnet Asset Management Inc. now owns 312,859 shares of the company’s stock worth $22,554,000 after purchasing an additional 31,334 shares during the period. Finally, South Dakota Investment Council raised its position in shares of Docusign by 140.6% during the third quarter. South Dakota Investment Council now owns 53,373 shares of the company’s stock worth $3,848,000 after purchasing an additional 31,192 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CRO Paula Hansen sold 6,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total transaction of $281,040.00. Following the completion of the sale, the executive directly owned 79,233 shares of the company’s stock, valued at $3,711,273.72. This trade represents a 7.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary Agnes Wilderotter sold 3,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $48.15, for a total value of $144,450.00. Following the sale, the director directly owned 59,803 shares of the company’s stock, valued at approximately $2,879,514.45. This represents a 4.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 65,489 shares of company stock worth $3,125,814. 0.59% of the stock is owned by insiders.

Analyst Ratings Changes

DOCU has been the topic of a number of research reports. HSBC set a $53.00 target price on Docusign in a research report on Friday, February 13th. Royal Bank Of Canada lowered their price target on Docusign from $70.00 to $55.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 18th. Bank of America began coverage on Docusign in a research report on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 price target for the company. Piper Sandler lowered their price target on Docusign from $75.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Finally, Morgan Stanley lowered their price target 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. Three equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.27.

Docusign Trading Down 2.3%

NASDAQ DOCU opened at $46.16 on Tuesday. The firm has a market capitalization of $8.97 billion, a P/E ratio of 29.97, a PEG ratio of 1.80 and a beta of 0.92. The business has a fifty day simple moving average of $47.74 and a 200 day simple moving average of $53.95. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The firm had revenue of $830.24 million during the quarter, compared to analyst estimates of $824.71 million. During the same period last year, the firm posted $0.90 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts predict that Docusign Inc. will post 1.76 EPS for the current fiscal year.

Docusign announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 17th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 21% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.