Andra AP fonden Cuts Stake in Docusign Inc. $DOCU

Andra AP fonden reduced its stake in shares of Docusign Inc. (NASDAQ:DOCU) by 35.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,900 shares of the company’s stock after selling 171,000 shares during the quarter. Andra AP fonden owned about 0.16% of Docusign worth $21,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOCU. NewEdge Advisors LLC boosted its position in shares of Docusign by 36.4% during the 1st quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after acquiring an additional 2,457 shares during the last quarter. Guggenheim Capital LLC lifted its position in Docusign by 6.7% in the second quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock worth $899,000 after buying an additional 729 shares during the last quarter. State Street Corp lifted its position in Docusign by 3.0% in the second quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after buying an additional 236,494 shares during the last quarter. Sei Investments Co. increased its stake in Docusign by 60.7% in the second quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock worth $3,146,000 after purchasing an additional 15,247 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in Docusign by 51.0% in the second quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock worth $14,735,000 after purchasing an additional 63,911 shares during the period. 77.64% of the stock is currently owned by institutional investors.

Insider Activity

In other Docusign news, Director Mary Agnes Wilderotter sold 3,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $48.15, for a total transaction of $144,450.00. Following the transaction, the director owned 59,803 shares of the company’s stock, valued at approximately $2,879,514.45. The trade was a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Allan C. Thygesen sold 26,250 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $47.78, for a total value of $1,254,225.00. Following the transaction, the chief executive officer directly owned 152,237 shares in the company, valued at $7,273,883.86. This trade represents a 14.71% decrease in their position. 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 65,489 shares of company stock valued at $3,125,814 in the last three months. Company insiders own 0.59% of the company’s stock.

Analysts Set New Price Targets

DOCU has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their target price on Docusign from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, June 5th. Wells Fargo & Company cut their target price on Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. Weiss Ratings raised Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, June 3rd. Piper Sandler lowered their price target on Docusign from $75.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Finally, HSBC set a $53.00 target price on Docusign in a report on Friday, February 13th. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $60.27.

Docusign Price Performance

Docusign stock opened at $44.55 on Friday. The stock has a market capitalization of $8.51 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 1.37 and a beta of 0.92. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $86.65. The business has a 50 day simple moving average of $47.63 and a 200-day simple moving average of $53.53.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 4th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The business had revenue of $830.24 million during the quarter, compared to analysts’ expectations of $824.71 million. During the same period in the previous year, the business earned $0.90 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that Docusign Inc. will post 1.97 EPS for the current fiscal year.

Docusign declared that its Board of Directors has approved a stock buyback plan 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 plans are generally an indication that the company’s leadership believes its stock is undervalued.

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.